Central Otago Lakes, including Queenstown, now surpasses Auckland/Thames/Coromandel as the most unaffordable region in New Zealand, the Massey Home Affordability Report says. Central Otago has overtaken Auckland as New Zealand's least affordable area for housing. "Central Otago Lakes, including Queenstown now surpasses Auckland/Thames/Coromandel in the index as the most unaffordable region in New Zealand," the report said. But the ratio of median house price to median wage remains high in Auckland and Central Otago Lakes, Squires said. "Seven regions surpass Auckland's annual price increase (6.7 per cent) - Northland (20.4 per cent), Waikato (14.3 per cent ), Manawatu/ Wanganui (9.2 per cent), Wellington (15.5 per cent), Nelson/Marlborough/ Kaikoura (13.1 per cent), Otago (17.5 per cent) and Central Otago Lakes (30.4 per cent)," the report said.

Source: Otago Daily Times April 06, 2017 02:48 UTC