Soaring house prices and rising interest rates are putting home ownership further out of reach for many Kiwis
Soaring house prices and rising interest rates are putting home ownership further out of reach for many Kiwis
24 November 2021
The latest Massey University Home Affordability Report shows median house prices countrywide rose 3.7 per cent in the August quarter.
Professor Graham Squires says combined with higher mortgage rates, home affordability has dropped 2.7 per cent.
He's been keeping an eye on the numbers for five years and says house prices have always been considered, but now interest rates are starting to play a part.
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