NZ housing 'severely unaffordable' globally

An international survey on housing affordability has confirmed what Auckland house hunters already know.

New Zealand continues to be plagued with a severely unaffordable housing market.

But the annual Demographia survey puts us in the same boat as Hong Kong, Australia, and the UK.

The 19 most affordable markets were in the United States - where the housing crisis saw swathes of people walk away from their homes as values plummeted.

More than 60% of the eight markets measured here were severely unaffordable, with Auckland being the worst.

The survey measures house prices compared to household incomes - in affordable and normal housing markets that ratio doesn't get past three.

In Auckland, the median house prices is now 6.7 times that of the median salary.

QUOTES

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.