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
Bob Francis Wins Senior New Zealander Of The Year
Seven-term Mayor of Masterton, Bob Francis CNZM QSO MBE JP, has been named the 2024 Ryman Healthcare Senior New Zealander of the Year Te Mātāpuputu o te Tau.
Affectionately dubbed ‘Mr Wairarapa’, Bob has served his community in multiple areas, including health services, commercial development, the arts, aviation, homelessness, conservation and sports.
Bob’s award signifies the sixth time Ryman Healthcare has supported this category of the Kiwibank New Zealander of the Year Awards, which provides a fantastic opportunity to celebrate Kiwi seniors who continue to make positive contributions towards the future of Aotearoa.
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