Talk Money: August 1

  • 01/08/2016
Talk Money: August 1

Labour says that few of the houses to be built under Auckland's Unitary Plan look like they will be affordable.

The party says modelling done for the Independent Hearing Panel predicted only 15 percent of the houses to be built within the existing urban area will cost less than $800,000.

Less than 2 percent will cost under $600,000 - and only one dwelling is expected to be sold for under $500,000.

Labour says the mortgage on a $600,000 house costs nearly half of the median Auckland income - so it calculates that 98 percent of the 247,000 planned houses will be unaffordable to the typical family.

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