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Housing affordability returns to average following pandemic price spike

Affordability no longer the significant barrier it has been, Cotality NZ chief property economist Kelvin Davidson says.

  • Housing affordability returns to long-term average in Q2 2023
  • Value-to-income ratio falls to 6.7, matching 2004-2026 average
  • Mortgage repayments drop to 40% of income, below long-term average

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