Contemporary Housing Affordability Measures

Abstract

As previously outlined, this book has two main purposes: (i) to review a range of available approaches for the measurement of housing affordability and (ii) to examine the evidence for housing affordability in Melbourne, Australia. This chapter focuses on the first purpose i.e. reviewing a range of available approaches for the measurement of housing affordability. It should be noted that the focus of this book is on housing affordability in metropolitan areas and not in rural and regional areas where the issues concerned may, to a certain degree, be dissimilar in nature and scale. This exemplifies the fact that the housing market as a whole is comprised of a string of different housing markets segments.