NZ housing among world's most expensive, wealth inequality 'out of control'

Tauranga has been named the eighth most expensive housing market in the world, heading off cities like London and San Francisco. That's according to a global study out today, the 15th annual Demographia International Housing Affordability Study, which measures average house prices against average income. The world's most expensive city is Hong Kong, followed by Vancouver, Sydney, Melbourne, Santa Cruz, San Jose, Los Angeles - and then Tauranga.

And a new report from Oxfam is warning wealth inequality is "out of control" and doing particular harm to women.

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