House prices still outpacing household earnings
Tauranga is the least affordable city for housing. (Image: Supplied)
The gap between house prices and salaries continues to widen, with few signals that tighter regulations and rising mortgage rates will bring homes back into the realm of affordability.CoreLogic’s latest housing affordability report shows that by the June quarter, average residential values had surged to 7.9 times the average annual household income.That's the highest in the 18 years CoreLogic has been calculating this data series, up from 6.6 times a year earlier, and well ahead of the long term average of 5.8 times annual income.The...
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