27 Apr 2016

Aucklanders priced out of poor suburbs

11:53 am on 27 April 2016

Buying a home, even in poor suburbs, is out of reach of many Aucklanders as the city's property booms.

Researchers who have been tracking property prices since 2010 found the number of homes being bought by investors had risen by up to 38 percent.

Auckland University senior property lecturer Michael Rehm said up to 80 percent of homes in Otara, a poor suburb in South Auckland, were being bought by investors - which would not leave a lot of room for owner-occupants to get in there.

He said home ownership in the area had gone down from 36 percent in 2001 to 28 percent in 2013.

Mr Rehm said the median house price in Otara had now risen to $446,000.