Rising cost of housing outpaces income gains in past decade

Wed, 18 Oct 2017

By Sophie Boot Oct. 19 (BusinessDesk) - The country's average annual household income gained more than 40 percent in the past decade, but was still outpaced by rising housing costs, Statistics New Zealand figures show. Since 2007, average annual household income has increased 42 percent to $98,600, while average annual housing costs have risen 51 percent to $16,000 in that time, the annual household income survey shows. Inflation, as measured by the consumer price index, rose 20 percent over the decade, Stats NZ said. In the year ended...

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