KEY POINTS
• A 9.2% annual improvement in affordability across the
nation continues the trend of the last three quarterly periods
• All regions with the exception of Central Otago Lakes show
an improvement in the national affordability index since this
time last year
• Hawke’s Bay region reversed improvement in the last two
quarters with a decline in affordability of 6.7%
• Central Otago Lakes; Taranaki; Manawatu/Whanganui, and
Southland also report deterioration in affordability for the
first quarter of 2016
• Auckland sustains improvement in affordability for the
third consecutive quarter, contributing to a modest annual
improvement of 3.1%.
• Mortgage interest rates continue to fall to 0.64% less than
12 months ago. The latest OCR drop of 0.25% will flow
through to consumers in the June quarter data.
Read the full report here
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