Aucklanders locked out of housing market by 'criminal' prices - Property News AU/NZ | propertynoise.co.nz & propertynoise.com.au

PHOTO: Auckland. FILE

Unabated – and escalating – housing costs in Auckland are causing mental health problems, prompting relationship issues, and contributing to some of the country’s other ailments, according to some at the raw end of the city’s market.

Since Auckland went into lockdown, the average house in the region is $113,000 more expensive. The average one now costs $1.48 million, up 28 percent in the last 12 months.

Even a home at the lower quartile – half of the average cost – has risen $120,000 in that time, to $752,000 from $631,000 12 months ago. An increase of more than $100,000 in a year.

House value growth during three months adds $113k to Auckland prices

For some young people in Auckland, if you don’t laugh at the cost of housing, you cry.

“It’s f—-d,” Jonny, a young construction worker, laughed. “Pretty much, yeah. It’s f—-d. Unreal.”

He reckoned it would take him decades to scrape together a deposit.

“Yeah, nah, I don’t see it happening for me, not any time soon. Maybe [in my] late 40s – up until then I’m buggered. On top of having to pay someone’s else mortgage by renting, [there’s] no room to save in turn to get a house or a deposit on a house. Not happening.”

Really? Mangere East? The Auckland market is out of control

Michelle said the high cost of housing was causing people constant stress.

“It’s disturbing everything, their wellbeing and all, because they can’t get by. I think it’s ridiculous to be honest what landlords are charging considering a whole lot of them have paid their buildings off over and over again.”