The West

A new survey has listed Geraldton, Mandurah, Perth and Port Hedland as having severely unaffordable housing.

The ninth annual Demographia International Housing Affordability Survey lists Australia as having the largest number of "severely unaffordable" housing markets, ahead of New Zealand, the United Kingdom, Ireland and Canada.

The survey ranks the affordability of housing in the United States, Canada, United Kingdom, Australia, New Zealand, Ireland and Hong Kong by using a median multiple that divides the median house price with the median household gross annual income before tax.

A multiple of three or less is seen as affordable.

Overall Australia's major market housing affordability improved from a median multiple of 6.7 to 6.5 over the past year.

However each of the five major markets continues to be severely unaffordable and have overpriced housing.

Sydney is the least affordable, with a median multiple of 8.3, Melbourne 7.5, Adelaide 6.5, Perth 5.9 and Brisbane 5.8.

This year's survey also includes resource-based markets in the Pilbara and found housing is seriously unaffordable in Karratha (4.9) and Port Hedland (6.4).

Geraldton, Mandurah, Perth and Port Hedland were all listed as severely unaffordable with a median multiple of 5.1 or more.

The least affordable housing was in Port Macquarie, with a median multiple of 8.6, followed by Coff's Harbour at 8.0 and the Sunshine Coast, also at 8.0.

Outside the major metropolitan areas, the least expensive markets were Shepparton (VIC) at 4.5 and Mildura (VIC) at 4.6, both still seriously unaffordable.

There were no affordable or moderately unaffordable markets in Australia.

The West Australian

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