HOUSING
The primary measure of housing affordability is the house prince-to income ratio. A ratio 3 to 1 (average house price 3 times the average income) is affordable, above 5 to 1 is considered unaffordable.
In 2005 the ratio was 5.4 to one, but 2023 figurers the average house price costs 7.5 times the average household income. In Auckland the figure is 8.6, and in Tauranga 9.7.
What will happen under National. History says nothing but increasing unaffordability, and the 3 headed coalition offers little hope of a change, but the jury is out. What will todays Govt bring to the table that’s different to the last 20 years?
Dont hold your breath!
Not owning your own home, the trend, which neither Labour and National has reversed. Labour has tried harder, and National not interested, but both have fail rates on this topic
Our Retirement Commission under the guidance of Jane Wrightson, is trying hard to get key issues in front of both the politicians and media, a pat on the back!