Home unaffordability breaks records in Auckland
The latest Massey University Home Affordability Report shows that home affordability in Auckland declined by 10.2% over the March – May 2015 quarter and by 25% over the previous 12 months.
In contrast, eight of the country’s 12 regions actually showed improvements in affordability over the last quarter.
It was the second consecutive quarter that the margin of difference between Auckland and the rest of the country has reached record levels.
Massey University senior property lecturer Dr Susan Flint-Hartle said the affordability improvements in other regions could not outweigh the “Auckland effect”.
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