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New Demographia International Housing Affordability Survey

New Demographia International Housing Affordability Survey
Rebecca Williams - Tue Jan 26, 2010 @ 07:07PM
Comments: 2
Last Comment: Thu Feb 11, 2010 @ 06:29AM

The 6th Annual Demographia International Housing Affordability Survey, co-authored by Hugh Pavletich of Performance Urban Planning, covers 272 metropolitan markets in 6 nations (the United States, the United Kingdom, Canada, Australia, Ireland and New Zealand.) The Survey shows marked improvement in housing affordability in the United States and Ireland, but a continuing loss of housing affordability, especially in Australia.

The United States is the first nation in Survey history to have achieved an overall affordable rating, with a Median Multiple of 2.9. The recent house price declines have restored national housing affordability to the below 3.0 historic norm (last achieved in the early 2000s), as the price bubble burst in many markets. There were 98 affordable markets, most of which experienced an increase in demand. There were also 58 moderately affordable markets. Even with the price decreases, however, house prices remain far above historic norms in some markets. Eight of the markets were seriously unaffordable, while 11 were severely unaffordable. Plan-driven land use regulation is in place in all of the major markets with severely unaffordable housing affordability.

Demographia Full Story: Housing Unaffordability as Public Policy: The New Demographia International Housing Affordability Survey

Get the Full Survey Here.

Tags: Affordable Housing, International, report
Comments: 2
Last Comment: Thu Feb 11, 2010 @ 06:29AM

Comments

1. D   |   Wed Jan 27, 2010 @ 02:16AM

An interesting note:

"Dr. Tony Recsei, President of Save Our Suburbs (SOS) in Sydney writes home ownership has been a source of boundless opportunity in his introduction to the 6th Edition. He says that urban planning policies are poised to reduce home ownership to nothing more "but a dream as vast numbers of young people and the underprivileged will never be able to raise a family within the security of their own home. Dr. Recsei systematically rebuts the notion that sustainability requires densification and concludes Unless we are vigilant, high-density zealots will do their best to reverse centuries of gains and drive us back towards a Dickensian gloom. This year's edition highlights the continuing deterioration of housing affordability in Australia and improvements in the United States, where values driven up in the housing bubble in some markets have returned to near the historic norms. Further, the Survey describes the process by which plan-driven land use regulation (growth management, urban consolidation, compact city policy or smart growth) makes land for housing development unaffordable and as a result places housing affordability beyond reach."

2. Hugh Pavletich  |  my website   |   Thu Feb 11, 2010 @ 06:29AM

Dear Ms Williams,

Thank you for advising your readers of the release of this years Demographia Housing Survey.

We do trust that this years Survey, with the information on the Demographia and Performance Urban Planning websites, stimulate discussion in exploring solutions to these serious housing issues.

You will note that we have had extremely lively public conversations of these issues in Australia and New Zealand these past five years and are now very much focused on solutions.

We do look forward to your community participating actively as well in encouraging this essential public discussion.

Best regards,
Hugh Pavletich
Co author - Annual Demographia Survey
Performance Urban Planning
Christchurch
New Zealand

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