Housing affordability appears to be in a period of relative stability for first home buyers, with only slight changes in the main drivers of affordability, according to interest.co.nz's latest Home Loan Affordability Report. However most of that increase in after-tax pay occurred last year and incomes are now also flattening out. What all of this suggests is we are in a period of relative stability in terms of affordability for first home buyers. However, those who can afford to buy their own own home will probably be highly paid, because home ownership remains unaffordable for aspiring first home buyers on average pay in most parts of the country. The tables below give the main affordability measures for first home buyers with either a 10% or 20% deposit, in most of the main urban areas around the country.
