Housing affordability has worsened slightly in Wanganui, but it's still the country's most affordable city in which to buy a home.
National housing affordability improved slightly last month, according to the latest Roost home loan affordability report which measures the percentage of after-tax pay needed to service an 80 per cent mortgage on a median-priced house.
Despite being the nation's most affordable city, home loan affordability in Wanganui worsened from 28.3 per cent of your take-home pay in June to 31.5 per cent in July. That compares with just 27.3 per cent of pay needed for a mortgage a year ago.
Property Brokers in Wanganui branch manager Philip Kubiak said the important point was that affordability was still there in the city. "Alongside other economic factors like jobs, it should be a big drawcard for a lot of out-of-towners who want to move here."
The property market was still seeing a "bit of a flurry" after a Reserve Bank announcement to restrict high-risk home loans, he said.