Auckland has been ranked the seventh least affordable housing market in the world in a new report.
The Demographia International Housing Affordability report ranked 94 housing markets from eight countries around the world, using the "median multiple", a measure of median house price divided by median household income.
Auckland had a median multiple of 10.8 this year, meaning house prices were 10.8 times the median household income.
This was actually a slight improvement on last year, when New Zealand's largest city had a median multiple of 11.
Yet the ratio has grown significantly in recent years - in 2020 house prices were 8.6 times the median household income.
This year's list was topped by Hong Kong, with a median multiple of 18.8.
Sydney was second with 13.3 and Vancouver third with 12.
The US city of Pittsburgh was the most affordable, with a median multiple of 3.1. However, all 94 cities were deemed unaffordable by the report's authors, who considered anything above 3.0 as unaffordable.
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