New research about property affordability from Online Mortgage Advisor has revealed where in the world property prices have outgrown local wages the most in the last five years.
Researchers looked at where in the world house prices have become less affordable for locals on the average annual salary, based on how many square meters of property they can purchase.
Tucson, Arizona has seen the worst change in affordability in the world. The average person in Tucson can afford 135 square feet less of space in 2020 compared to 2016.
Phoenix ranked 8th in the world. Phoenix has seen a difference of a little more than 100 square feet.