Affordability not the problem
Economic research company, Strategic Risk Analysis Ltd, has just released one of its regular reports and it claims house prices are not as unaffordable as is popularly thought.
In his "Raving", managing director Rodney Dickens said that when the interest costs faced by new buyers, both in Auckland and nationally, as percentages of incomes are taken into account, there is no housing affordability problem.
Low interest rates have made housing as affordable for new buyers in Auckland as has been the case on average since 1992, he said.
Further, around the rest of the country, housing costs, in terms of interest outlays as a percentage of incomes for new buyers, are below average.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
