Relative to incomes, Queenstown is now more affordable than
South Manukau. Photo from the ODT files.
Queenstown and Dunedin were among six areas where housing
affordability improved during the past month, largely on the
back of declining median prices.
A jump in house prices and stagnant wages in South Auckland
meant the Manukau region became the most expensive market in
the country, relative to incomes for first-home buyers,
taking the top spot off the North Shore, according to the
latest Roost Home Loan affordability report.
South Manukau was now more expensive, relative to incomes,
The April report showed affordability for home buyers got
worse in 11 cities, including Manukau, New Plymouth,
Gisborne, Wellington, Christchurch, Nelson and Invercargill,
as median prices rose. Conversely, affordability improved in
Whangarei, Auckland City, North Shore, Tauranga, Dunedin and
Queenstown, where median prices fell.