16-07-2018

Latest Massey University Home Affordability report

1. News
2. 2018
3. July

KEY POINTS

• Nationwide, median sales price shows a 5.4 % year-on-year increase, with a 7.5% increase this quarter – contributing to a year-on-year decline in national affordability of 1.1%.

• All regions have an annual price increase – except for marginal falls in Taranaki (-0.1%; -$250) and Southland (-0.4%; -$1000), and a major fall in Central Otago Lakes (-6.8%; -$52,000).

• Most regions show an increasing quarterly rate of median house price growth, except for minor quarterly falls in Canterbury/Westland (-0.6%; -$2750) and major falls in Hawkes Bay (-7.0%; -$30,000) and Central Otago Lakes ( -8.6%; -$67,000).

• Northland has the highest quarterly median house price increase of $27,000, and Central Otago Lakes has the highest quarterly median house price decline of $67,000.

• Central Otago Lakes, including Queenstown (36.10 Index Points), continues its record as the most unaffordable region in New Zealand with median house prices at 13.7 annual wages. • National House price to income ratios are widening with house prices moving from 8.5 to 9.1 times annual wages.

Read the full report here

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