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
Turn downsizing stress into strength
Downsizing can open the door to a new stage of your life that is rich in opportunity. However, it can be a daunting prospect. If you are embarking on a new chapter of life, the thought of shedding familiar possessions can feel even more stressful. This can be true even if the life changes are a good thing, such as a move to somewhere you will love to live.
Once you understand why you have this feeling, you can reframe it as creating a new environment that will support your present life while reminding you of your best experiences.
Click read more for the full article.
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