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Housing affordability has fallen in 13 of 16 regions.
If an annual view was taken, there had been a solid decline in home affordability of 10.1 per cent nationally, he said.
“The decline is reflected in 13 of the 16 regions, but there are regional differences with three regions seeing a slight improvement in affordability.”
The biggest quarterly drops in affordability were in the Tasman region where it was down 21.9 per cent, Gisborne where it was down 18.8 per cent, Manawatu/Whanganui down 17.9 per cent, and Taranaki down 17.7 per cent.
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In contrast, affordability improved modestly over the quarter in Auckland, Nelson and Southland.