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
Pamela’s Kiwi food tour
Pamela, a resident of Bert Sutcliffe Village, has a passion for good food, great company, and exploring new places. A seasoned traveller and cruising enthusiast, Pamela has sailed to numerous destinations, sampling local cuisines along the way.
Closer to home, alongside her son-in-law and daughter, she has discovered a variety of restaurants that showcase the diversity of New Zealand’s culinary scene. Whether you’re planning a road trip, dreaming about your next cruise, or simply searching for a great dining spot, these are Pamela’s top food recommendations to inspire your next adventure.
Click read more for the full story.
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