Melbourne house prices ranked more ‘unaffordable’ than New York and London

Melbourne’s house prices have been ranked the eighth most unaffordable in the world when compared with how much people are earning.

We’ve fared worse than New York and London.

And the fact Melbourne is the “auction capital of the world” hasn’t helped, says a former president of the Real Estate Institute of Victoria.

Press PLAY below to hear what’s “stoking the fire”