The 10 Most Expensive Cities To Live In Around The World

Spoiler alert: Bournemouth makes the list

When it gets to the end of the month and you have approximately £4.29 to your name, it's easy to think you live in the most expensive place on Earth.

But where actually is the most expensive city in the world to live? The 13th Annual Demographia International Housing Affordability Survey: 2017 has revealed the top 10 by analysing 406 metropolitan housing markets in nine countries — Australia, Canada, Hong Kong, Ireland, Japan, New Zealand, Singapore, United Kingdom, and the United States — in the third quarter of 2016.

The data results are calculated by dividing the median house price by the median household income to calculate the least affordable housing markets.

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10. Bournemouth & Dorset, UK

Bournemouth & Dorset came in at number 10 on the least affordable major housing market list, with data revealing it to have an 8.9 median multiple - with anything over 5.1 deemed "severely unaffordable". 

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9. San Francisco, USA

San Fran came in at 9th, with the data also revealing housing was "severely unaffordable" based on people's annual incomes. It had a median multiple of 9.2.

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8. Los Angeles, USA

In Los Angeles, house prices rose the equivalent of 14 months in household income in only 12 months last year, giving it a median multiple of 9.2.

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7. Honolulu, USA

This is the 13th time the Hawaiian capital has been listed as "severely unaffordable", with a median multiple (house price divided by median household income) of 9.4.

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6. Melbourne, Australia

Melbourne, Australia, came in at sixth on the list - with a median multiple of 9.5, making it 4.4 points over the "severely unaffordable" bracket of 5.1 & over. 

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5. San Jose, USA

Data revealed San Jose as the fifth most unaffordable place to try and buy a house, with the average house price divided by the average annual income giving a median multiple of 9.6.

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4. Auckland, New Zealand

With a median multiple of 10 (almost double the lowest median multiple to be deemed "severely unaffordable"), Auckland is the fourth most expensive city to buy a property in this year. 

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3. Vancouver, BC, Canada

The survey revealed house prices in Vancouver rose the equivalent of a full year's household income in only a year, making it the third least affordable place in the world with a median multiple of 11.8.

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2. Sydney, Australia

Data deemed Sydney as the second most unaffordable place to live - or try to buy property - with a median multiple of over double the "severely unaffordable" bracket. It had a median multiple of 12.2.

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1. Hong Kong, China

For the seventh year in a row, Hong Kong has the least affordable housing market, with a median multiple of 18.1. Last year, it received the worst ranking on record: 19.