Kiwis spending almost a third of income on mortgages

Kiwis spending almost a third of income on mortgages
Brent Melville
Interest rates are at record lows but New Zealanders are spending almost a third of their average household income to service mortgages, according to Corelogic’s second-quarter housing affordability report.Still, that’s less than the average Australian, who pays 34 percent for their home, and well below the 49 percent of take-home pay Kiwis were paying in 2007 just prior to the global financial crisis.It's also just under the 33 percent share of income Kiwis paid during the first quarter of 2020, making it the lowest average sin...

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