NZ house prices second fastest growing in the world

(File)
(File)

There is only one country in the world that has higher-rising house prices than New Zealand, while not one country could top us for house price jumps compared to income.

Figures published by the International Monetary Fund (IMF) looking at the annual percentage change in real house prices in more than 60 countries showed only Qatar beat New Zealand.

New Zealand's house price hikes (14.6 percent) topped countries like Australia, the United States and several other developed countries.

Qatar came out on top with 15.5 percent.

Comparing 2015 to 2010's house price to income ratio, New Zealand beat 30 other countries.

"Affordable housing" is measured "acceptable" when it is three times the median household income, which for New Zealand would equal about $230,000; however, the median house price in New Zealand was $490,000 in April, more than five times the median income which is around $76,000.

In some of the country's most expensive suburbs like Auckland's North Shore, and Queenstown-Lakes, even mid-price properties are 10 or 11 times more than the median income.

However, Invercargill, the Wairarapa and Wanganui were still considered affordable.

From 2014-2015 house prices in...

Newshub.

Share to Facebook Share to Twitter Share to Email
Share to Facebook Share to Twitter Share to Viber Share to WhatsApp Share to Email