New Zealand Market Affordability Remains Variable Across The Nation.
In New Zealand property news, Interest.co.nz's Home Loan Affordability Reports for December show that first home buyers in Auckland and the Waikato would have found it a little more difficult to get into their own homes at the end of last year while those in the Bay of Plenty, Wellington and Canterbury would have found it a little bit easier.
The reports show affordability improved in six regions, worsened in six regions and remained static elsewhere in December, as a combination of slightly lower mortgage interest rates and some fickle price trends produced a mixed bag of results across the country.
The reports track monthly movements in mortgage interest rates, the Real Estate Institute of New Zealand's lower quartile dwelling prices and median net pay for couples working full time, to measure changes in housing affordability throughout the country.
