Now, we know you’ve been wondering what the latest Demographia International Housing Affordability study of major global markets has to say.
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Wonder no more.
We’ve done the digging for you and can report that Greater Bendigo is the 53rd most unaffordable place to buy a house out of a total of 367 cities.
It is relatively dearer to buy a home in Bendigo than (wait for it) New York or Miami.
Every year the Demographia people do a study of housing affordability in Australia, the US, Japan, Great Britain, China, Ireland, New Zealand and Singapore.
It ranks affordability according to the multiples of the average household income needed to buy a house.
In Bendigo, it takes six years of median income to buy a house. In New York it’s 5.9.
The least affordable place on the planet is Hong King with a staggering 19 times the median income. The second least affordable place was Sydney with 12.2 years of average income to buy an average house.
The most affordable this year was Limerick in Ireland where it took just 1.8 years of toil to buy a house. And we tell jokes about the Irish?
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It’s been with some cheeky pleasure that we have followed the success of the Bendigo wine region in recent years, but we can’t help wondering what we might have been.
DTM had heard of the following situation before, but we just came across first-hand proof that our fair region once dominated the world’s greatest wine shows.
Such as in Vienna in 1875. A newspaper called the Melbourne Leader reported in June 1875 of the European shock at how good our lusty red wines were.
Victorian wines seized 12 of the 16 prizes on offer, along with glowing accolades for the fabulous wine area of Strathfieldsaye (yes, our Strath) where the Heine’s vineyard was pumping out seemingly limitless quantities of global award winning red wine.
The article recalled that the Viennese shouldn’t have been surprised because in the Paris wine show of 1870 Bendigo wines secured six out of 17 wine prizes.
The French judges cried foul, alleging that the wines at the show seemed to have benefitted greatly from originating in Paris, being shipped to Australia and then carted back to France.
