Experimental Housing Affordability Index

The Housing Affordability Index re-scales the household data from the Housing Affordability Measure Rent (HAM Rent Median) and Housing Affordability Measure Buy (HAM Buy Median) so that affordability for renters at the start of the time series is 1000.

HAM Buy Median has been scaled so it remains in the same position relative to HAM Rent Median. Higher index values indicate that housing has become less affordable.

The Housing Affordability Index helps us to understand the trends over time of housing affordability for renters in local areas around New Zealand (territorial authorities and Auckland wards).

National Housing Affordability Index

At a national level, housing affordability for potential first-home buyers improved by 3.6 percent between December 2017 and December 2018.

Affordability for renter households nationally improved by 4.2 percent between December 2017 and December 2018.

 

Figure 1: Housing affordability for potential first home buyer (HAM Buy Index) and renter (HAM Rent Index) households, national (March 2003 to December 2018)

Figure 1: Housing affordability for potential first home buyer (HAM Buy Index) and renter (HAM Rent Index) households, national (March 2003 to December 2018)

Auckland Housing Affordability Index

Affordability for potential first home buyer households in Auckland improved by 5.0 percent between December 2017 and December 2018.

Affordability for renter households in Auckland improved by 4.9 percent between December 2017 and December 2018. This is a 10.0 percent improvement since December 2016.

Figure 2: Housing affordability for potential first home buyer (HAM Buy Index) and renter (HAM Rent Index) households in Auckland (March 2003 to December 2018)

Figure 2: Housing affordability for potential first home buyer (HAM Buy Index) and renter (HAM Rent Index) households in Auckland (March 2003 to December 2018)

Christchurch City Housing Affordability Index

Affordability for potential first home buyer households in Christchurch City improved by 1.9 percent between December 2017 and December 2018.

Affordability for Christchurch renter households improved by 0.9 percent between December 2017 and December 2018.

Figure 3: Housing affordability for potential first home buyer (HAM Buy Index) and renter (HAM Rent Index) households in Christchurch City (March 2003 to December 2018)

Figure 3: Housing affordability for potential first home buyer (HAM Buy Index) and renter (HAM Rent Index) households in Christchurch City (March 2003 to December 2018)

Wellington City Housing Affordability Index

Affordability for potential first home buyer households in Wellington City improved by 2.9 percent between December 2017 and December 2018.

Affordability for renter households in Wellington City improved by 5.5 percent between December 2017 and December 2018, an improvement of 10.3 percent from December 2016.

Figure 4: Housing affordability for potential first home buyer (HAM Buy Index) and renter (HAM Rent Index) households in Wellington City (March 2003 to December 2018)

Figure 4: Housing affordability for potential first home buyer (HAM Buy Index) and renter (HAM Rent Index) households in Wellington City (March 2003 to December 2018)

Methodology notes and data tables

Our Housing Affordability Measure downloads and notes of interest page includes more information about how the data have been analysed, the methodology report and downloadable data tables.

Published: July 24, 2019

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