Home affordability stablises

For the first time since the end of 2001 the New Zealand Home Affordability Index has shown a quarterly improvement in affordability. The slight improvement of 0.7% in the March quarter comes in the face of record house sales across the country...

In the previous four quarters New Zealand home affordability trended downwards with consecutive quarterly falls of 4.7%, 14.9%, 0.1% and 3.3%. In the past 12 months national home index has declined 18%, which means homes are now 18% less affordable than a year ago.

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