House Prices

Fewer people buying own homes

Fewer people are buying their own homes than 20 years ago even though it has never been easier to raise finance, a new report says.

Sunday, June 06th 2004

In changes likely to have long-term effects on New Zealand housing patterns, homes have become less affordable and owners have to spend bigger proportions of their income on housing costs, the report says.

That has led to the number of people renting homes increasing dramatically since the early 1980s, and house buyers are generally older.

There have also been significant changes in the makeup of households, which will influence demand for housing in the future.

The report analysing changes in the housing sector in the past 20 years was carried out by DTZ New Zealand for the Centre for Housing Research.

It says property values have increased significantly, especially in the main centres and coastal areas.

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Unity First Home Buyer special 3.99
ICBC 4.25
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.39
TSB Special 4.49
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Kiwibank Special 4.49
TSB Special 4.49
ANZ Special 4.49
ASB Bank 4.49
Kiwibank Special 4.49
Westpac Special 4.49
BNZ - Std 4.49
ICBC 4.59
Wairarapa Building Society 4.59
Unity Special 4.65
SBS Bank Special 4.65
AIA - Go Home Loans 4.65
SBS Bank Special 4.99
Westpac Special 4.99
ICBC 4.99
BNZ - Std 4.99
ASB Bank 5.15
Co-operative Bank - Owner Occ 5.39
ANZ 5.39
AIA - Go Home Loans 5.39
TSB Special 5.39
Kiwibank Special 5.39
Kainga Ora 5.49
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.25
AIA - Back My Build 4.44
Co-operative Bank - Owner Occ 5.30
Co-operative Bank - Standard 5.30
ICBC 5.39
Heartland Bank - Online 5.45
Kiwibank - Offset 5.80
Kiwibank 5.80
ANZ 5.89
TSB Special 5.94

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