Home loan affordability up in February

Home loan affordability improved slightly in February, the national median house price was stable, interest rates remained at record lows and incomes nudged up a little.

That is according to the latest Roost Home Loan Affordability monthly report.

It says affordability for young working couples remains near its best levels in seven years, although affordability for home buyers in central Auckland, Wellington and Christchurch remains difficult.

First home buyers are much more active in the market as they use their KiwiSaver nest eggs for deposits and force the banks to compete hard for their business with record low interest rates.