Feature article
NZ housing not cheap, but affordability shows signs of improving
Housing affordability has improved to its best level since 2019
AI summary
According to a CoreLogic report, New Zealand housing affordability for buyers is at its best since 2019. This is due to falling property values, rising incomes, and lower mortgage rates, improving key metrics like value-to-income ratios.
In contrast, renters face record-high pressures, with rent absorbing 28% of household income. While saving a deposit remains a hurdle, affordability has improved most in Auckland and Wellington. Long-term improvement will depend on increasing the housing supply.
Signs of improvement, but affordability pressures remain
Renters face mounting pressures
Regional affordability shifts
What’s next for affordability
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