Auckland worsens on Demographia’s affordability rating
19 January 2015
(Note: I would take much of what Demographia says with a grain of salt.
They are a politically motivated group whose agenda seems to be to embarrass Government and Local Councils.
Do not believe everything you read. Check out our Face book page for more detail)
Auckland has been rated severely unaffordable in all 10 of Demographia’s previous annual international housing affordability surveys and made sure of that ranking again today.
That’s not surprising. The metropolitan urban limits have been a constraint on land supply for more than a decade and the new rural:urban boundary proposed under the region’s unitary plan will continue to be a constraint, albeit with some more flexibility.
Auckland, 8.2, $613,000, $75,100
Christchurch, 6.1, $388,200, $63,900
Dunedin, 4.6, $249,000, $54,400
Hamilton-Waikato, 4.7, $314,700, $66,900
Napier-Hastings, 5.1, $292,200, $57,700
Palmerston North-Manawatu, 4.1, $221,700, $54,200
Tauranga-Western Bay of Plenty, 6.8, $397,600, $58,500
Wellington, 5.2, $392,500, $75,000
NZ median multiple, 5.2