The latest Massey University Home Affordability Report shows that homes in Auckland are now 56 per cent less affordable than the rest of the country - the second consecutive quarter that margin has reached record levels.
Falling numbers of building consents being issued in Auckland will add to the city’s housing shortfall and fuel skyrocketing house prices, Labour’s Housing spokesperson Phil Twyford.
Buying a first home became more affordable in most parts of the country last month thanks to a fall in lower quartile selling prices in most regions, but significantly less affordable in Auckland, where the lower quartile price surged to a record high, according to the interest.co.nz First Home B
As rent increases slow in much of the country, Auckland is forging its own path with the median weekly rent reaching yet another high, up to $490 per week for May. Rents in Auckland have increased by 6.5 per cent in the year to May 2015, ahead of the national increase of 6.3 per cent.
The stark realities of life for South Aucklanders in substandard Housing New Zealand and private rental homes were fully exposed at a South Auckland housing meeting today, Labour’s MP for Manukau East Jenny Salesa says.
In the midst of Auckland’s housing crisis, one of the city’s leading residential home builders and its architectural partner are showing that medium density terraced housing is a viable, affordable and architecturally attractive option in an increasingly space restricted region.
At a time of unprecedented attention on Auckland housing availability and affordability, plus OECD warnings that Auckland’s house prices are becoming a burden to Kiwi households and the wider economy, new research released by CBRE today shows that 5,700 new apartments are set to be developed ac
In May the door continued to close on buyers trying to enter the Auckland house market with less than $500,000 to spend.
Data released today by the Real Estate Institute of NZ ("REINZ") shows there were 62 fewer farm sales (-11%) for the three months ended May 2015 than for the three months ended May 2014.
Property Institute of New Zealand Chief Executive, Ashley Church, is warning of an ‘apartment bubble’ as the likely consequence of two seemingly unrelated responses to house price inflation in the Auckland property market.
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