PHOTO: Real Estate TVNZ
The results cover the time period from March 2016 up to March 2017, and in general show a decline in affordability in the major cities from the previous HAM data.
The HAM uses household-level data to compare income after housing costs of renters and potential first home buyers, to income after housing costs for the average New Zealand household in June 2013.
Worsening affordability for first-home buyers at that national level has been driven by higher house prices in Auckland, Wellington, Christchurch, Hamilton and Tauranga.
In the previous HAM data release, affordability in Christchurch and Wellington was improving and Auckland’s affordability was largely stable.
READ MORE VIA TVNZ