New Zealand Home Affordability Improves On Low Interest Rates

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Tuesday, the Massey University Home Affordability report showed that the home affordability index for New Zealand improved 2.3% in the three months to the end of August, largely due to lower interest rates for mortgages. This was smaller than the 8.5% improvement reported for the quarter ending May.

Home affordability climbed 17% during the August quarter from the previous year.

The survey found that nine out of twelve regions showed improvements in affordability during the last quarter. Meanwhile, Southland, Taranaki and Otago showed quarterly reductions in affordability.

Tuesday, the Massey University Home Affordability report showed that the home affordability index for New Zealand improved 2.3% in the three months to the end of August largely due to lower interest rates for mortgages. (Market News Provided by RTTNews)