May 31, 2010
Each year Mercer conduct a study to find the top 50 best cities on the planet for their Quality of Living survey.
Just like recent years, it seems New Zealand, and Australasia in general, are punching above their weight when it comes to representation on the list.
For this years survey, like last years, New Zealand again featured in both Top 5 lists.
According to the report in yesterdays Sunday Tele;
Residex figures show the median cost of a Sydney house is $651,500 – almost $190,000 ahead of London, where the median price for a two- to three-bedroom house is $462,000.
When trying to fathom why, the newspaper quotes John Lindeman, head of research for Residex as saying;
It’s quite incredible that houses are cheaper in those cities than in Sydney. But it’s caused by the demand for Sydney houses, which keeps outpacing the supply – and that’s not going to change any time soon.
Where to from here?