21 Jan 2019

All NZ major property markets unaffordable - housing report

From Morning Report, 7:10 am on 21 January 2019

All of New Zealand's major property markets are now considered severely unaffordable. The annual Demographia International Housing Affordability report out on Monday shows New Zealand continues to be one of the most unaffordable countries in the world to buy a house. Auckland has jumped two places is now ranked the seventh worst in the world. Median house prices are now nine times the average household income. Tauranga and Western Bay of Plenty tops the list in the with the most unaffordable real estate in the country, Wellington is fourth and Palmerston North-Manawatu is the cheapest. Hugh Pavletich is the co-author of the survey. He talks to Susie Ferguson.