Aucklanders pay high price to live the high life
Wednesday 24 November 2004
Aucklanders are paying a high price for the high life, according to a study that shows they owe 40 per cent of the nation's personal debt.
By The Landlord
Aucklanders, who make up 30 per cent of New Zealanders carrying debt, have taken on $29 billion, compared with $43 billion for the rest of the country, the joint Metro magazine-Statistics New Zealand study showed.Higher house prices were partly to blame, but Aucklanders were also paying for trying to keep up with the Joneses.
A Nielsen Media Research survey in August of households with incomes over $80,000 found Aucklanders regarded success and being seen as successful as more important than other New Zealanders.
Read More - Opens in a new window
Commenting is closed
Property News
ComCom warning for property trader
A property trader, who has attracted unfavourable media attention in recent years, has received a formal warning from the Commerce Commission.
Commercial
Demand challenges for commercial sector
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
Mortgages
LVR loosening likely - ANZ
LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.
