Home truths: No rich parents? No house!

  • Auckland house prices are now so expensive that most young first-home buyers cannot afford to buy without help from rich parents, says an expert.

Housing affordability researcher Ian Mitchell told the Weekend Herald that for many frustrated renters the Kiwi dream of home ownership was already out of reach.

“For a significant proportion … the only way they’re getting into the market is if their parents are giving them a couple of hundred thousand dollars for the deposit.”



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