Properties in most New Zealand regions now more affordable

    Recent property prices falls in New Zealand mean that houses are more affordable, with the national median home price now touching $350,000.

    House prices have fallen nationally $10,000 in the past three months, according to the latest home affordability report from Massey University.

    In the past three months, seven out of 12 regions showed improvements in affordability. Canterbury/Westland at 9.1%, Waikato/Bay of Plenty 4.9%, Auckland 4.8%, Nelson/Marlborough 0.7%, Otago and Wellington both at 0.6% and Manawatu/Wanganui 0.5%.

    It shows that Queenstown, Auckland and Wellington are the most expensive places when house prices are matched to average wages and average mortgage interest rates. Invercargill, Dunedin and Palmerston North are the most affordable. 

    Source: Property Community