Cheapest homes still $100/week more than 2014

  • People buying the cheapest homes Auckland has to offer are still paying at least $100 more in weekly mortgage repayments than what they were paying two years ago.

And they’re having to spend half their income on the crippling repayments.

Interest.co.nz’s Home Loan Affordability Report has revealed Auckland is the only region where the property market is “seriously unaffordable” for first-home buyers.

The report found that from February 2014 to the same month this year, the selling price of lower-end homes in Auckland climbed $150,000.

READ MORE VIA NZHERALD

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Most would-be owners have their hearts set on a standalone house. Photo / Paul Estcourt