New housing affordability indicator launched
Published 30 Nov 22
A new online tool providing timely, relevant housing affordability information is being launched by the Ministry of Housing and Urban Development (HUD) today.
The Change in Housing Affordability Indicators are provided by Te Tūāpapa Kura Kāinga - Ministry of Housing and Urban Development.
A range of information is included in the indicators. “There are insights into how the affordability of renting a home, purchasing a home, saving for a deposit and repaying a mortgage, for people entering the market for the first time is changing” says Alex Gunn, Manager of System Intelligence, Ministry for Housing and Urban Development.
“These indicators also provide information by regional council and territorial authority, giving users the flexibility to analyse and compare affordability changes over time across different parts of the country.
“The Change in Housing Affordability Indicators replace the Housing Affordability Measure (HAM), which was also developed to understand housing affordability in Aotearoa New Zealand,” says Alex.
Note to journalists and editors
Description of indicators
- The change in rental affordability indicator compares changes in new lease rental prices with the growth in median household disposable (after tax) income.
- The change in deposit affordability indicator compares changes in house prices with the growth in median household disposable (after tax) income.
- The change in mortgage serviceability indicator compares changes in the purchasing power of mortgage interest payments for new home loans with the growth in median household disposable (after tax) income.
Tony Wallace - Media Lead
Te Tūāpapa Kura Kāinga - Ministry of Housing and Urban Development
Phone: 0800252919 email: firstname.lastname@example.org