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Wellington housing market: $171k for a deposit in 2021


Wellington housing market: $171k for a deposit in 2021
28 Feb, 2021 06:51 PM
2 minutes to read
NZ Herald
First-home buyers in the capital now need to fork out $171,000 for a deposit on a house, new data has shown.
In research conducted by OneRoof.co.nz, released today, Wellington had the sharpest increase in the country, with house deposits jumping $43,000 in the past 12 months.
OneRoof editor Owen Vaughan said the post-lockdown surge had hit Wellington s first-home buyers particularly hard.
While the cost of servicing a mortgage has never been lower, deposit requirements have never been higher, he said.
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The path to home-ownership is particularly steep in Wellington. Median house prices in the city have broken the $1 million barrier – way above what the Government believes is affordable. ....

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