• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Results 1 to 1 of 1
  1. #1
    Join Date
    Jul 2003
    Location
    Kapiti in New Zealand
    Posts
    4,031

    Default Housing affordability improves

    It became easier for New Zealanders to afford a home in the three months to February, according to Massey University.

    The Massey University Home Affordability report measures house prices, weekly wages and mortgages, and over the three months the national affordability index improved by 8.3 percent.

    The home affordability index for the last three months stood at 29.62, compared to the November figure of 32.31.

    The lower the index the easier it is to afford a house.

    House prices were down by 2.2 percent. The average weekly wage increased by 1.1 percent and the weighted average mortgage rate decreased by 5.2 percent to 8.34 percent.

    Improvements to debt servicing ability were offset by tighter lending requirements, particularly the 20 percent deposit rate now required by most lenders.

    Over the last quarter 11 of the 12 regions showed improvements in affordability.

    The only region showing a decline was Southland at 3.2 percent, but it was the most affordable region with an index of 61 percent of the national average.

    Central Otago Lakes remains the least affordable region with an index of 146.8 percent of the national average. Next comes the Auckland region at 121.1 percent followed by Nelson/Marlborough at 109.1 percent.

    - NZPA

    Source: http://www.stuff.co.nz/business/pers...ility-improves

    Also read "NZ can cut rates further: IMF" click here

    Cheers

    Marc
    Free business resources - www.BusinessBlogsHub.com


 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Replies: 0
    Last Post: 27-05-2009, 10:08 AM
  2. Housing affordability best in 4 years
    By Marc in forum Videos
    Replies: 0
    Last Post: 19-03-2009, 08:07 AM
  3. Mortgage inquiries up as housing affordability improves
    By Marc in forum Property Investment (NZ)
    Replies: 5
    Last Post: 16-12-2008, 11:41 AM
  4. All about Housing Affordability
    By muppet in forum Property Investment (NZ)
    Replies: 7
    Last Post: 09-08-2008, 11:20 AM
  5. Housing Affordability
    By tricky in forum Property Investment (NZ)
    Replies: 7
    Last Post: 02-07-2008, 10:57 PM
  6. Housing affordability 'getting worse'
    By muppet in forum Property Investment (Oz)
    Replies: 0
    Last Post: 03-03-2008, 07:25 PM
  7. Home affordability improves slightly
    By muppet in forum Regions News (NZ)
    Replies: 0
    Last Post: 13-10-2007, 01:23 PM
  8. Housing affordability...
    By Walter in forum Finance, legal and tax (Oz)
    Replies: 0
    Last Post: 04-07-2006, 01:22 PM
  9. Housing Confidence Improves
    By Josko in forum General (NZ)
    Replies: 0
    Last Post: 01-05-2006, 12:23 PM
  10. PT Server Crashing
    By Marc in forum General (NZ)
    Replies: 0
    Last Post: 02-11-2003, 11:57 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •