Rising house prices put pressure on affordability through tail-end of 2018

Mon, 11 Feb 2019

By Paul McBeth Feb. 12 (BusinessDesk) - Modest house price gains through the tail-end of last year were big enough to counter cheap finance and higher wages, and squeezed home affordability in the three months through November, according to Massey University research. The quarterly home affordability report showed a 2.2 percent decline nationwide in the period as a 4.6 percent lift in the median house sale price was enough to outweigh a 0.5 percent increase in incomes and lower mortgage rates. While the deterioration was most stark in So...

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