Mildura and Shepparton most affordable regional areas in Australia: Demographia
The regional Victorian cities of Mildura and Shepparton rank as the most affordable Australian housing markets out of 32 major and minor housing markets as rated by US-based research group Demographia.
Canberra is the most affordable capital city market due to high civil servant wages. Sydney, with a median house price of $637,600 and median wages of just $69,400, is the least affordable.
The full list is:
National rank | Market | Median multiple | Median price | Median household income |
1 | Mildura | 4.2 | $207,000 | $49,300 |
2 | Shepparton | 4.2 | $236,000 | $55,600 |
3 | Launceston | 4.5 | $272,300 | $60,900 |
4 | Bunbury | 4.6 | $362,500 | $78,600 |
5 | Toowoomba | 4.7 | $275,000 | $58,400 |
6 | Albury-Wodonga | 4.8 | $274,000 | $57,200 |
7 | Canberra | 4.9 | $513,000 | $105,100 |
8 | Rockingham | 5.1 | $312,000 | $61,600 |
8 | Townsville | 5.1 | $358,000 | $70,500 |
10 | Cairns | 5.2 | $350,500 | $67,400 |
10 | Devonport-Burnie | 5.2 | $257,00 | $49,200 |
10 | Wagga Wagga | 5.2 | $293,000 | $56,300 |
13 | Tamworth | 5.3 | $293,000 | $48,600 |
14 | Bendigo | 5.4 | $277,500 | $51,700 |
15 | Ballarat | 5.5 | $285,000 | $52,200 |
15 | Alice Springs | 5.5 | $440,000 | $79,600 |
17 | Mackay | 5.6 | $410,000 | $73,700 |
18 | Perth | 5.7 | $450,000 | $78,900 |
19 | Mandurah | 5.9 | $367,300 | $62,700 |
19 | Hobart | 5.9 | $345,000 | $58,900 |
21 | Brisbane | 6.0 | $427,500 | $71,500 |
22 | Darwin | 6.1 | $507,250 | $82,500 |
23 | Bundaberg | 6.2 | $270,000 | $43,600 |
24 | Newcastle-Maitland | 6.7 | $365,000 | $54,300 |
24 | Adelaide | 6.7 | $385,000 | $57,300 |
26 | 6.9 | $403,000 | $58,200 | |
27 | 7.1 | $390,000 | $55,300 | |
28 | Sunshine Coast | 7.5 | $430,000 | $57,000 |
29 | Gold Coast | 7.6 | $470,000 | $61,900 |
30 | Coff’s Harbour | 8.3 | $354,000 | $42,500 |
31 | 8.4 | $567,000 | $67,700 | |
32 | Sydney | 9.2 | $637,600 | $69,400 |
Source: Demographia’s 8th Annual International Housing Affordability Survey