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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Aucklanders are being called to have their say about the new layout of the Arthur Grey low traffic area in Onehunga.
The people-friendly area will be trialled for the next two weeks.
It is designed to allow access to cars but stop them from using the location as a short-cut.
Trials have been taking place around Arthur St and Grey St in Onehunga, and Eastview Rd in Glen Innes as part of the national Innovating Streets for People pilot fund.
Local Board chair Chris Makoare said it was critical to get enough feedback to make the best decisions for communities.
He has urged members of the public to be patient and to complete the online survey on the stage 1 layout.
The board wants to know what residents think about the area being trialled, about road safety, traffic speeds and volumes.
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