Housing is now the most unaffordable it has been for typical first home buyers since interest.co.nz began producing its Home Loan Affordability reports at the beginning of 2004. However while lower quartile prices are catching their breath, mortgage interest rates have continued to increase at pace. Southland is now the only region in the country where the lower quartile selling price is below $500,000. The Home Loan Affordability Reports estimate the combined median after-tax pay for couples aged 25-29 in each region, assuming both are working full time. Over the same period the national lower quartile housing price has increased from $480,000 to $661,000, up 38%.

Source: Stuff April 28, 2022 09:50 UTC