Home ownership is disappearing from reach for even more New Zealanders following the release of the latest housing affordability figures.
CoreLogic's biannual report shows the average property value has risen to be nearly eight times the annual household income.
That happened because property values rose another 15 percent in the first six months of the year, while the gross average household income lifted a mere 1 percent.
CoreLogic chief economist Kelvin Davidson spoke to Morning Report.
