When measured against income and rents, Australian home prices are the second most expensive in the world, according to a new report from the Bank for International Settlements. In overall cost of housing, Australia comes second only to Norway and just ahead of the United Kingdom and Sweden. On a graph showing housing costs relative to income, Australia comes just behind Belgium and on the same line as Canada and New Zealand. In terms of the relationship between buying a home and the cost of renting, Australia comes fourth behind Sweden, Canada and Norway.
