23 Sep 2008

Housing becoming more affordable

6:06 am on 23 September 2008

New figures show buying a house has become easier, for the third quarter in a row.

Massey University's real estate analysis unit says houses became more affordable in eight of the country's 12 regions in the three months to the end of August.

It looked at house prices, wages and mortgage rates to determine affordability.

The affordability of houses in Northland increased the most, rising by 19%.

But it became harder to buy a property in Waikato, Wellington, and Otago.

Houses in the Central Otago Lakes area, Auckland and Nelson/Marlborough were the least affordable.