Housing affordability drops 14%, driven by Auckland house price rises

Wed, 28 Jan 2015

By Fiona Rotherham Jan. 29 (BusinessDesk) - Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report. Almost three quarters of the change – 10 percent - occurred in the last three months. The worsening in annual affordability has been driven in equal measure by rising house prices, particularly in Auckland, and marginally in...

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