Wakatipu home affordability study points to more renters
With a strong transient work force, increasing interest rates and continued growth in property values, home affordability is an ongoing point of discussion in the Wakatipu region.
MAC Property has recently completed a study of home affordability in the Wakatipu Basin, selecting dwellings sales in Lake Hayes Estate and unit sales in the Fernhill/Sunshine Bay as target areas.
The valuation company has also compared the median house sale price and median household incomes of the Queenstown Lakes District with the national medians and the medians of a number of other centres around New Zealand.
With a Queenstown Lakes District April median dwelling sale price of $529,500, a purchaser utilising 100% financing will be spending 75% of their median gross household income on debt servicing. This means it is becoming more difficult for single income families to purchase even the cheapest family dwelling or unit in the Wakatipu Basin.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)