Massey University’s latest Home Affordability Report showed the region’s affordability fell 30 per cent since last June, and only Gisborne slipped further with a 31 per cent drop. High demand and short supply also saw house prices shoot up by roughly the same percentage over those 12 months. The outlook wasn’t favourable for buyers on the house price side of the equation either. Quotable Values property consultant Jason Hockly said Palmerston North house prices had a period of stability with little change month-to-month for three months before taking off again in June. The Palmerston North market saw three or four pauses in the past five years, but this one was unusually long.

Source: Stuff July 04, 2021 04:30 UTC