At one stage during the second wave in Auckland I thought it was 30% above historical average.
But going by the 8% figure which people used to deem as fair prior to 2000, your house would double its value in 10 years.
So:
1992 median was $135k~
2000 median was $235k~
2002 median was $270k~
2010 median was $460k~
2019 median is $885k~
So the problem imo with affordability sits on the government and its lack of support for small business and its over support for large business giving next to 0% income increases vs inflation, 1% at best.
House prices are meant to stop going up in price? Come on, seriously. Just because some people dont save enough. Even with the current median, imo a person saving for 5 years can afford a property in Auckland.
If our economy is so strong, why are wages barely sitting at inflation, 1% if we are lucky?
Anyway, Auckland's median house price is justified imo. 2m people and growing and far more jobs with more high end jobs available.
But going by the 8% figure which people used to deem as fair prior to 2000, your house would double its value in 10 years.
So:
1992 median was $135k~
2000 median was $235k~
2002 median was $270k~
2010 median was $460k~
2019 median is $885k~
So the problem imo with affordability sits on the government and its lack of support for small business and its over support for large business giving next to 0% income increases vs inflation, 1% at best.
House prices are meant to stop going up in price? Come on, seriously. Just because some people dont save enough. Even with the current median, imo a person saving for 5 years can afford a property in Auckland.
If our economy is so strong, why are wages barely sitting at inflation, 1% if we are lucky?
Anyway, Auckland's median house price is justified imo. 2m people and growing and far more jobs with more high end jobs available.