Feature article
NZ housing not cheap, but affordability shows signs of improving
Housing affordability has improved to its best level since 2019
AI summary
A recent CoreLogic report shows NZ housing affordability for buyers is at its best since 2019, driven by falling property values, rising incomes, and lower mortgage rates. Key metrics like the value-to-income ratio and mortgage servicing costs have improved significantly.
In contrast, renters face mounting pressure, with the rent-to-income ratio hitting a record high. Affordability has improved most in Auckland and Wellington. While conditions are more favourable for buyers, saving a deposit remains a significant hurdle.
Signs of improvement, but affordability pressures remain
Renters face mounting pressures
Regional affordability shifts
What’s next for affordability
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