Sydney Facing a Housing Affordability Crisis

In Australia by Glen Burns

Sydney house prices have rose by seventy per cent in the past five years, the average price has reached $450,000. First homebuyers are facing tough decisions either moving to cheaper cities with less opportunities or face higher living costs. Prices in exclusive areas on the foreshores of Sydney Harbour are reaching multi-million dollar price tags, as people seek to live closer to their employment, in Sydney?s central business district.