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South Auckland housing now the least affordable in NZ

South Auckland housing now the least affordable in the country

House prices have shot up by 16 per cent for first-home buyers in Manukau over the last year, pushing the cost of buying a house there to the highest in the country relative to incomes, says Labour’s Associate spokesperson for Auckland Louisa Wall.

“Up until April the North Shore was the most expensive place in the country to buy a first home as a proportion of home buyers’ incomes.

“Under National, a bottom-of-the rung first-home in South Auckland now costs 102.4 per cent of the median after tax wage. That’s double the national average.

“That’s a crisis. It means our families, including those who rent, have limited options about where they call home.

“That our families are forced to live together in sub-standard accommodation is the legacy of a do-nothing National government.

“The Roost Home Loan Affordability Index for April confirms that inaction is making the kiwi dream impossible for too many young families.

“Labour will deal to the housing crisis by building 100,000 affordable homes, many of them in South Auckland. We’ll stand up for state housing too, and halt house price hikes with a capital gains tax on speculators”

“Labour will save the Kiwi dream from being another National nightmare and prioritize families and communities in South Auckland. My message is keep the faith - we are only an election away."

Ends

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