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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, than Queenstown.
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.