Author:Auckland Council Chief Economist,David Norman,Harshal Chitale
Topics:Economy, business and industry, Housing
Source:Auckland Council Chief Economist's Office
Insights on the Auckland economy
Auckland faces a significant housing challenge. Auckland Council has an important, but not unilateral, role in overcoming this problem.
Yet an overly-simplistic approach to comparing affordability here and elsewhere is not helpful. For instance, recent news coverage has focused on the fact that Auckland has a median house price to median income ratio of around 10 (the “median multiple”), which one study categorises as “severely unaffordable”. Auckland Council acknowledges that a ratio of 10 is too high, and in 2015 endorsed a bold target of achieving a median multiple of 5.0 by 2030. ...
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