It's official! It's more expensive to buy a house in Sydney than N.Y., Tokyo or London

A new housing affordability study by Demographia shows: Buying a median house in Sydney is now more costly than in any other world city - with the exception of Hong Kong. Should we celebrate or mourn this fact? To find out more, Christian Froelicher spoke to co-author Dr Oliver Hartwich in Wellington, New Zealand.

406 cities in nine countries were examined: Australia, Canada, Hong Kong, Ireland, Japan, New Zealand, Singapore, United Kingdom and the United States of America.

For the complete list of 406 cities, ranked by affordability, click

here

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For further fascinating insights into the booming Australian property market, click on this interview:

Uwe Jacobs - Immobilienmakler in Melbourne