But there s also a price cap on the property you can buy. It varies based on region - for instance in Auckland, an existing house can be up to $625,000, in Wellington $550,000, and Dunedin $425,000. I believe they ve been set in line with real-time data, Finance Minister Grant Robertson told Newshub. They re set at the median of the lower quartile.
What that means is they re supposed to be set at the middle price point of all the houses below the median house price.
But QV data provided to Newshub shows that lower quartile price is higher than a lot of the regional caps. The average starter house is too expensive.
Friday, 23 April 2021, 11:55 am
Much has been written about the reasons contributing to
the crisis in housing affordability in New Zealand and its
immediate and longer term consequences. This paper draws on
research and commentary about how we got here and what can
be done to help people in Aotearoa New Zeaand have a decent
home, whether through owning it or renting/leasing
it.
“There is no easy or quick fix to New
Zealand’s over-valued housing market. Whether house prices
spiral up or down, the impacts of the necessary policy
solutions will not be seen immediately. Not one single
change will be enough. The solutions need to be a
Article – Closing The Gap Much has been written about the reasons contributing to the crisis in housing affordability in New Zealand and its immediate and longer term consequences. This paper draws on research and commentary about how we got here and what can be done to help people …
Much has been written about the reasons contributing to the crisis in housing affordability in New Zealand and its immediate and longer term consequences. This paper draws on research and commentary about how we got here and what can be done to help people in Aotearoa New Zeaand have a decent home, whether through owning it or renting/leasing it.