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Australia's property market more affordable than in NZ

Australia and New Zealand were recently reported as having some of the most unaffordable properties around the globe.
Australian property may not be as unaffordable by comparison as many think, with news reports this week stating New Zealand is starting to see prices that are less affordable than its near neighbour.

A recent report stated that all Commonwealth nations, including both Australia and New Zealand, have the most unaffordable houses in the world, but the normal situation, wherein Australia and the UK are the nations worst affected, seem to be a thing of the past. 

The Knight Frank Global Opportunities Index analysed prices worldwide and found that Belgian houses are the least affordable, while second and third place on the list was Norway and Canada.

New Zealand came in fourth place in the list, with Australia only sitting fifth overall when it comes to unaffordable homes, showing that there may be some improvement on the horizon, which could help more young people get onto the ladder at last.

Posted by Craig Francis

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