Improvement in NZ home affordability may not last

Mon, 11 Jan 2016

By Pattrick Smellie Jan. 12 (BusinessDesk) - The affordability of New Zealand housing improved by 5.7 percent in the final three months of last year, helped in part by stalling Auckland house prices, according to the latest Massey University Home Affordability Report. However, its authors question whether the improvement will last as the prospect of a prolonged period of historically low interest rates, and possibly further interest rate falls, could encourage house buyers to continue bidding up prices. It also notes that Auckland home...

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