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N.Z. homes turn less affordable than Australia, survey says

Posted on 21 January 2013

New Zealand homes became less affordable than Australia in 2012 as constrained land supply and government levies, combined with low borrowing costs, pushed prices higher, according to a survey.
The median home price in New Zealand’s major urban centers rose to 6.7 times gross annual median household income from 6.4 times a year earlier, according to the ninth annual report by Belleville, Illinois-based consulting company Demographia………………………………………..Full Article: Source


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