London and New York City didn't even make the top ten...

If you're currently residing in Sydney or Melbourne, and feel as though housing affordability has become astronomically bonkers - you're completely correct. The most expensive cities to live in around the world in 2017 have been revealed, and Sydney has come in as second, with Melbourne following in as sixth.

Taking in first place was unsurprisingly Hong Kong, who has topped the list since it was first introduced to the Demographia International Housing Affordability Survey seven years ago. The survey analyses housing markets from nine countries: Australia, Canada, Hong Kong, Ireland, New Zealand, USA, Japan, the UK and Singapore. 

A big surprise was the notable absences of New York City, London and Singapore; all major cities with some of the richest real estate around the globe - but not one of them made the cut. The U.S. still had four locations ranked in the top ten, with San Jose (beating L.A. and San Fran) boasting the most expensive housing market in the country.

Click through the gallery to see the full list of the most expensive places to live in 2017 (and get your passports ready): 

Guess which city is now the most expensive in the world?