NZ housing swallows economy

New Zealand’s average house price has hit $1 million for the first time:

New figures from OneRoof and its data partner Valocity show the typical cost of a property around the country increased 4.9% in the last three months and 27% since September 2020.

The doubling of the national average property value in less than a decade will put further pressure on first home buyers and push up deposit requirements for many to $200,000 – more than three times the average annual wage…

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