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Lack of house deposit causes dream to fade

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  • Lack of house deposit causes dream to fade

    Lack of house deposit causes dream to fade


    New Zealanders' dream of owning their home is slowly fading.

    Four years ago, 68 per cent of us lived in our own places.

    But by 2016, just 61.8 per cent of the population will own a home. The reason is that the price of property is growing faster than the ability of New Zealanders to buy real estate.

    A study by DTZ and funded by the Centre for Housing Research and Building Research found that the biggest barrier to ownership in the heated housing market is people's incomes and an inability to raise a deposit for a mortgage.

    The study, Housing Tenure Aspirations and Attainment, noted anecdotal evidence of Aucklanders borrowing 100 per cent of their home's purchase price
    News source:
    Latest breaking news articles, photos, video, blogs, reviews, analysis, opinion and reader comment from New Zealand and around the World - NZ Herald
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx