31 Jul 2012

Homes more affordable but only for some - report

9:49 am on 31 July 2012

Home loan affordability worsened in June as the national median house price rose to record highs.

However, the latest Roost Home Loan Affordability report shows record low interest rates continue to make housing affordable for double income households outside of central Auckland and Christchurch.

The monthly reports show affordability for young working couples remains near its best levels in almost eight years, although buying homes in central Auckland, Wellington and Christchurch remains difficult.

Affordability for first home buyers improved to below 22% of income and remains around its best levels since late 2004.