PHOTO: Expensive.
Major Housing Market: Auckland, New Zealand’s only major housing market has a severely unaffordable 8.8 Median Multiple.
Housing affordability has deteriorated from a Median Multiple of 5.9 in the first Survey (2004), thus adding the equivalent of nearly three years in pre-tax median household income to the house prices. Auckland34 is the ninth least affordable among the 92 major housing markets, and has been severely unaffordable in all 14 Demographia International Housing Affordability Surveys.35
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