{"id":17233,"date":"2017-07-26T14:02:18","date_gmt":"2017-07-26T13:02:18","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17233"},"modified":"2018-11-22T12:16:20","modified_gmt":"2018-11-22T11:16:20","slug":"demographia-international-housing-affordability-survey-2017","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17233","title":{"rendered":"Demographia International Housing Affordability Survey 2017"},"content":{"rendered":"

Demographia<\/a>\u00c2\u00a0has produced benchmark data on housing affordability since 2004, linking median house prices and household income data. Now in its thirteenth year, the annual report allows comparisons to be made between different housing markets. Along with other studies, it concludes that housing supply restrictions are directly connected to prices. In short: supply and demand.<\/p>\n

The survey currently covers 406 metropolitan housing areas in nine countries: the UK, Australia, Canada, China (Hong Kong), Ireland, New Zealand, the US; plus Japan and Singapore which were added in 2013. Requests from other nations to expand the\u00c2\u00a0coverage is encouraged, and we may soon see the addition of mainland China and India.<\/p>\n

Markets are categorised as \u00e2\u20ac\u02dcaffordable\u00e2\u20ac\u2122, \u00e2\u20ac\u02dcmoderately unaffordable\u00e2\u20ac\u2122, \u00e2\u20ac\u02dcseriously unaffordable\u00e2\u20ac\u2122 and \u00e2\u20ac\u02dcseverely unaffordable\u00e2\u20ac\u2122. Although the characteristics of different housing types and sizes are not shown in the data, the report does point out that housing in the UK and Hong Kong, particularly new housing, is \u00e2\u20ac\u02dcabnormally small by New World standards\u00e2\u20ac\u2122.<\/p>\n

Most Affordable Housing Markets (and selection criteria used)<\/strong><\/p>\n

All eleven of the \u00e2\u20ac\u02dcaffordable\u00e2\u20ac\u2122 markets reported are in the US, followed by:<\/p>\n

    \n
  1. US (housing markets over 75k population)<\/li>\n
  2. Japan (urban areas over 75k population)<\/li>\n
  3. Canada (markets over 75k population)<\/li>\n
  4. UK (urban areas over 150k population and London ‘Exurbs’)<\/li>\n
  5. Singapore (Singapore)<\/li>\n
  6. Australia (urban areas over 50k population and Pilbara)<\/li>\n
  7. New Zealand (urban areas over 75k population)<\/li>\n
  8. Hong Kong (Hong Kong)<\/li>\n<\/ol>\n

    All the major markets of Australia, New Zealand and Hong Kong are \u00e2\u20ac\u02dcseverely unaffordable\u00e2\u20ac\u2122.<\/p>\n

    Least Affordable UK Housing Markets<\/strong><\/p>\n

    No areas of the UK were found to be \u00e2\u20ac\u02dcaffordable\u00e2\u20ac\u2122. Of the 21 UK major markets, seven were \u00e2\u20ac\u02dcseverely unaffordable\u00e2\u20ac\u2122. The most affordable UK market was Leeds and West Yorkshire (with median household income of \u00c2\u00a337,900).<\/p>\n

    The least affordable was Bournemouth and Dorset (with median household income of \u00c2\u00a329,900) which ranked tenth worldwide, with only the likes of San Francisco, Los Angeles and Hong Kong less affordable.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
    Affordability Scale
    \n<\/strong><\/td>\n    		UK Major Housing Markets<\/strong><\/td>\n<\/tr>\n
    Affordable<\/td>\nNone in UK<\/td>\n<\/tr>\n
    Moderately Unaffordable<\/td>\n1.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Leeds and West Yorkshire<\/td>\n<\/tr>\n
    2.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Glasgow<\/td>\n<\/tr>\n
    Seriously Unaffordable<\/p>\n

     <\/p>\n

     <\/p>\n

     <\/p>\n

     <\/p>\n

     <\/p>\n

     <\/p>\n

     <\/td>\n

    		1.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Blackpool and Lancashire<\/td>\n<\/tr>\n
    2.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Derby and Derbyshire<\/td>\n<\/tr>\n
    3.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Middlesborough and Durham<\/td>\n<\/tr>\n
    4.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Hull and Humber<\/td>\n<\/tr>\n
    5.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Newcastle and Tyneside<\/td>\n<\/tr>\n
    6.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Manchester and Greater Manchester<\/td>\n<\/tr>\n
    7.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Birmingham and West Midlands<\/td>\n<\/tr>\n
    8.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Stoke on Trent and Staffordshire<\/td>\n<\/tr>\n
    9.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Leicester and Leicestershire<\/td>\n<\/tr>\n
    10.\u00c2\u00a0 Liverpool and Merseyside<\/td>\n<\/tr>\n
    11.\u00c2\u00a0 Warrington and Cheshire<\/td>\n<\/tr>\n
    12.\u00c2\u00a0 Bristol and Bath<\/td>\n<\/tr>\n
    Severely Unaffordable<\/td>\n1.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 East and South East England (London Exurbs)<\/td>\n<\/tr>\n
    2.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Nottingham and Nottinghamshire<\/td>\n<\/tr>\n
    3.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Sheffield and South Yorkshire<\/td>\n<\/tr>\n
    4.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Edinburgh<\/td>\n<\/tr>\n
    5.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Plymouth and Devon<\/td>\n<\/tr>\n
    6.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 London<\/td>\n<\/tr>\n
    7.\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 Bournemouth and Dorset<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    The Town and Country Planning Act (1947) details urban containment restrictions which have been used as a model worldwide. These controls in land use were increased in the 1990s and early 2000s. The report shows concludes that unaffordability in the housing market reflects this restrictive policy.\u00c2\u00a0Where\u00c2\u00a0housing markets have been competently managed by releasing land, the cost of living was lower and housing costs less expensive, allowing the households a more affluent lifestyle. Causing land to be \u00e2\u20ac\u02dcartificially scarce by regulation\u00e2\u20ac\u2122 had largely been the cause of higher prices.<\/p>\n

    Oliver Hartwich of The New Zealand Initiative<\/em> wrote in his introduction to the Survey: \u00e2\u20ac\u0153We should not accept extreme price levels in our housing markets. High house prices are not a sign of city\u00e2\u20ac\u2122s success but a sign of failure to deliver the housing that its citizens need.\u00e2\u20ac\u009d<\/p>\n

    PropertySurveying.co.uk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    Demographia\u00c2\u00a0has produced benchmark data on housing affordability since 2004, linking median house prices and household income data. Now in its thirteenth year, the annual report allows comparisons to be made between different housing markets. Along with other studies, it concludes that housing supply restrictions are directly connected to prices. In short: supply and demand. The … Continue reading “Demographia International Housing Affordability Survey 2017”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[556],"class_list":["post-17233","page","type-page","status-publish","hentry"],"yoast_head":"\nDemographia International Housing Affordability Survey 2017 - Property Surveying NEWSLETTER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=17233\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Demographia International Housing Affordability Survey 2017 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"Demographia\u00c2\u00a0has produced benchmark data on housing affordability since 2004, linking median house prices and household income data. 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