It’s a problem that would currently be welcomed by many countries, but New Zealand is concerned over rising property prices and feels those who can afford a home may be forced to spend much of their income doing so, while those who are unable to afford a home may consider moving overseas.
The median house price in New Zealand has hit an all-time high of NZ$372,000 which is 6% more than before the global financial crisis, and is more than double compared to a decade ago. This median price is now around five times the median household income, and in Auckland median prices are around NZ$500,000, nearly 10 times the average annual wage of NZ$53,000………………………………………..Full Article: Source