Home affordability improves, except in Auckland Massey University

Mon, 08 Oct 2012

By Hannah Lynch Oct. 9 (BusinessDesk) - Auckland is the only region in New Zealand where home affordability has declined over the past year, according to Massey University Real Estate Home Affordability Report. The all districts national affordability index improved 4.9 percent in the 12 months ended Aug. 31 compared to 2.9 percent a year earlier. Auckland bucked the trend, recording a 0.4 percent decrease in affordability. “House prices in Auckland are increasing faster than other regions due to the imbalance of new supply to meet demand...

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