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Explained: How much of the average Kiwi household’s income goes into mortgage payments?

By Simon Dallow, 1News Presenter
September 2, 2020

While the number is big compared to how much renters pay, homeowners seem to be doing better than those in Australia.

A recent CoreLogic report found New Zealand families are forking out nearly a third of their income for mortgage payments, while many New Zealanders say they can’t afford to buy their own home.

The report into housing affordability also found the national house price to income ratio is high.

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