Major housing markets in New Zealand 'severely unaffordable'

New Zealand's major housing markets are "severely unaffordable" according to the latest Demographia survey, out today. Auckland homes have been ranked the ninth most unaffordable in a survey of more than 400 major cities in nine countries. But Tauranga is even less affordable than Auckland. Hugh Pavletich is a co-author of the Demographia study and joins Susie Ferguson to discuss the results.