23 Jan 2017

Auckland named fourth most unaffordable city in the world

From Morning Report, 7:24 am on 23 January 2017

Auckland's houses continue to rank amongst the most expensive on the face of the globe, in a relative sense at least, while Tauranga is not far behind in a new international snapshot of home affordability.

Auckland's houses continue to rank amongst the most expensive on the face of the globe.

Auckland's houses continue to rank amongst the most expensive on the face of the globe. Photo: RNZ / Claire Eastham-Farrelly

The annual Demographia survey, which is out today, compares house prices to income in more than 400 cities.

Auckland has retained the place of fourth most unaffordable city behind Hong Kong, Sydney and Vancouver.