Auckland is the most unaffordable place to live in New Zealand, while the West Coast is the most affordable according to a report released today.
The latest Massey University Home Affordability Report is out and has shown a small increase in national home affordability.
The report covers the quarter from December 2018 to February 2019 and shows national home affordability has risen by 4.4%.
Median House prices have decreased by 3.4% overall, coupled with an increase in incomes across many regions – which together attribute to the positive outlook.
According to the report, the new regional data puts Auckland as the country’s most unaffordable region, with the West Coast as the country’s most affordable region.
Report author, David White from the Massey University Real Estate Analysis Unit, says the results show home affordability in New Zealand continues to fluctuate from quarter to quarter.
“This quarter we have seen an improvement in affordability, while the previous quarter showed a decline,” he says. “If we take an annual view, however, there’s an almost static result for the country as a whole.”
He says that while national affordability has barely changed over the past 12 months, the results mask significant regional changes in both directions.
“Within this aggregate result, there are some large regional changes, including a 6.9 per cent improvement in affordability for the West Coast over the past year, and a 19.3 per cent decline in affordability for Gisborne,” he said.
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