Poll: Do you think rising house prices in Auckland will hit a limit?
Auckland houses are less affordable than those in all but three other cities from eight countries surveyed for the 2021 Demographia international housing affordability report.
It’s now more affordable to buy a house in San Francisco or London than in Auckland. A new report has ranked the Super City as the fourth least affordable housing market in the world.
The 2021 annual Demographia international housing affordability report, which is a scaled down version of previous years’ reports, looks at housing affordability in Australia, Canada, Hong Kong, Ireland, New Zealand, Singapore, UK and the US.
It ranks 92 major housing markets – with populations of more than one million – in eight countries based on the median multiple, which measures median house price divided by gross median household income.
According to the report, Auckland now has a “median multiple” of 10.0. That’s up from 8.6 last year when it was the equal sixth most unaffordable market with Toronto, and from 6.4 in 2010, just a decade ago.
Regions with house prices more than three times the median regional income are considered unaffordable, so Auckland’s median multiple makes it severely unaffordable.
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25.4% Yes
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51.6% No
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23% Unsure- it's too complex
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Auckland light rail project
Hi neighbours,
The Government has announced plans to get Auckland's light rail project back on track.
Transport Minister Michael Wood has revealed plans to set up a new working group to create a business case for the project.
It will have six months to provide the Government with information on a preferred route, along with costs and funding options for the rapid transit system from Auckland's CBD to the Auckland International Airport.
The working group will comprise representatives from the Ministry of Transport, Waka Kotahi NZ Transport Agency, Auckland Council, Auckland Transport and Maori, Wood said.
Which route would you prefer for the light rail project?
What do you think of the delays in getting the project back on track?
How will the rapid transit system to the airport benefit you?
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