Houses are going up by $30,000 a year but wages are only rising fractionally in one of the clearest illustrations of the worsening housing affordability crisis.
"The average annual weekly wage increase of $28.06 was not enough to offset a $30,000 increase in the national median house price and an increase in the average mortgage interest rate from 5.52% to 5.86%," the survey found.
Affordability deteriorated in nine regions; Auckland [14.4%], Canterbury [11.7%], Southland [9.4], Otago [9.2%], Central Otago/Lakes [8.9%], Waikato [7.8%], Wellington [7.7%], Hawkes Bay [2.1%] and Nelson/Marlborough [1.2].
On a regional basis, three regions had improved annual affordability.
