Feature article
NZ housing not cheap, but affordability shows signs of improving
Housing affordability has improved to its best level since 2019
AI summary
According to the CoreLogic Housing Affordability Report, NZ housing affordability for buyers is at its best since 2019. This is due to falling property values, rising incomes, and lower mortgage rates improving metrics like the value-to-income ratio.
However, affordability for renters has hit a record low. While saving a deposit remains a challenge for buyers, cities like Auckland and Wellington have seen significant improvements, whereas Tauranga remains the least affordable main centre.
Signs of improvement, but affordability pressures remain
Renters face mounting pressures
Regional affordability shifts
What’s next for affordability
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