Aussie homes ‘40 per cent overvalued’ leaving young buyers praying for property crash

  • AUSTRALIA’S housing market is 40 per cent overvalued based on price to income measures, with one expert warning an entire generation is now praying for a property crash.

In its latest round-up of global housing, The Economist found prices have risen in 20 out of 26 countries it tracks, with San Francisco, Vancouver, Sydney and Shaghai in particular singled out.

In those four cities, prices have increased by 12 per cent a year over the past three years, “twice the average national pace”.

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Melbourne from the air. Picture: Tim Carrafa

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