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The pull of Oz: could another 'brain drain' be on the cards?

Infometrics economists talk about the changing pattern of migration
New Zealand’s Covid-19 response has made it a safe haven in a pandemic-ravaged world but, post-Covid, is there potential for a new Kiwi “brain drain” to Australia? Miriam Bell reports.
The “lucky country” has always been a magnet for New Zealanders in search of opportunity.
But, after a strong upsurge following the Christchurch earthquakes that peaked around 2012, migration flows to Australia declined significantly in recent years.
Now, as Covid continues to reshape the economic landscape and New Zealand’s house prices skyrocket, there’s speculation that Kiwis might, once again, start to cross the ditch. ....

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House asking prices up nearly $90K in 'completely out-of-control frenzy'

Average asking prices for homes rises $89,575 in one year. ....

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Housing affordability at worst point in 'at least 17 years'

CoreLogic senior property economist Kelvin Davidson said average household incomes had not kept pace with property value growth. The latest Infometrics figures showed a rise of just 1.3 per cent in average household income over the last quarter of 2020.
“To get the true picture of housing affordability you have to look at the price-to-income ratio, and based on the historical data we have, houses are as unaffordable as they’ve been at any time for at least 17 years.”
While Corelogic’s data only goes back to 2004, Davidson said his sense was that housing affordability was probably at its worst ever - even though mortgage rates in the 1980s were in the 20 per cent range. ....

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Average Auckland home passes $1.2 million, QV says

Veteran affordable housing campaigner calls it a 'national disgrace'. ....

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Affordability crunch: Will house prices hit a limit?

Affordability crunch: Will house prices hit a limit?
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