House prices are at their most affordable for six years, a new survey has revealed.
The monthly Home Loan Affordability report by interest.co.nz is based on median house prices, incomes and interest rates.
In September, home loan affordability had improved for the third consecutive month and is now back at levels last seen in December 2004, the survey says.
It puts the change down to lower fixed mortgage rates and higher incomes as well as flat house prices.
Nationally, just over 58% of a median income is needed to pay the mortgage on a median-priced house.
Queenstown remains the most expensive area in the country and Invercargill the most affordable.