Affordability levels causing buyer strain
Auckland and Central Otago Lakes continue to be, by far and away, the least affordable regions to buy a property, according to the September quarter’s Massey University Home Affordability Report.
The two regions are now 62% and 61% respectively less affordable than the rest of New Zealand – a nearly unprecedented level of difference.
However, it is another region’s decline in affordability, over that period of time, which indicates the strain on the Auckland market.
Massey University senior property lecturer Susan Flint-Hartle said most of the country, including Auckland, saw modest improvements in affordability over the year to September 2016, largely due to steady reductions in the OCR,
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