Media

http://i.stuff.co.nz/national/politics/opinion/92907277/election-2017-clash-between-home-owners-and-generation-rent-looms

http://www.newshub.co.nz/home/money/2017/05/rotorua-fastest-growing-area-for-housing-qv-price-index-shows.html

http://www.stuff.co.nz/manawatu-standard/news/91536775/house-prices-in-feilding-overtake-those-in-nearby-neighbour

 

New Zealand Herald
One area of New Zealand outstrips Auckland as least affordable: Find out where
April 6 2017
Auckland is no longer New Zealand’s least affordable area for housing. A southern region has emerged to knock Auckland off its perch: Central Otago. The Massey Home Affordability Report compares house prices with wage levels and takes into account the cost of borrowing to discover where houses are most out of reach. “Central Otago Lakes, including Queenstown now surpasses Auckland/Thames/Coromandel in the index as the most unaffordable region in New Zealand,” the report said. Auckland’s median house price dropped by $51,944 or 6.1 per cent in the last quarter, leaving median house prices to stand at $800,000. Associate Professor Graham Squires, who wrote the report, said: “Central Otago also has the largest decline in affordability over the 12-month period, which is a reflection of tourism industry demand in Queenstown, a shortage of housing supply, speculative investment demand, a focus on high-end lifestyle living in the area, and largely stagnant wage increases.”…
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11833073

 

Radiolive.co.nz [Radio Interview]
Central Otago Lakes now more unaffordable than Auckland
April 6 2017
The latest Massey University Home Affordability Report – shows Central Otago Lakes has now surpassed Auckland as the most unaffordable region. Joining Ali Mau on drive is Dr Graham Squires Associate Professor, School of Economics and Finance Massey…
http://www.radiolive.co.nz/Central-Otago-Lakes-now-more-unaffordable-than-Auckland/tabid/506/articleID/139105/Default.aspx

 

Stuff.co.nz
Central Otago Lakes tops Auckland in affordability stakes
April 6 2017
Auckland has lost its title as the least affordable place in New Zealand to buy a house.
Massey University has released its latest home affordability report, for the first quarter of 2017. It compares the cost of borrowing, house prices and wage levels in centres around New Zealand. It does not consider the deposit required to purchase, which is a hurdle for many first-home buyers. It shows Auckland’s median house price dropped $51,944, or 6.1 per cent, over the three months. That pushed its affordability up 7.5 per cent. Central Otago Lakes’ prices continued and affordability was down 11.2 per cent compared to the year before. “Central Otago also has the largest decline in affordability over the 12-month period, which is a reflection of tourism industry demand in Queenstown, a shortage of housing supply, speculative investment demand, a focus on high-end lifestyle living in the area, and largely stagnant wage increases,” report author Associate Professor Graham Squires said…
http://i.stuff.co.nz/business/91268540/central-otago-lakes-tops-auckland-in-affordability-stakes

 

Radionz.co.nz
Central Otago Lakes homes NZ’s most unaffordable
April 6 2017
The latest Massey University Home Affordability Report showed Central Otago Lakes home affordability fell 8.2 percent in the December-February quarter and the region was now 68 percent less affordable than the national average value. The report measured house prices, interest rates and wages. The South Island region includes Queenstown, as well as Wanaka, Cromwell and Alexandra. Auckland was listed as 55 percent less affordable than the national average value, but affordability rose by 7.5 percent because the median house price in Auckland dropped by $51,944 over the last quarter to $800,000 in February. Report author Graham Squires said it was too early to tell if Auckland house prices were going down and commentators were questioning whether the quarterly drop was just a “blip in the cycle”. Dr Squires said Central Otago Lakes was the most unaffordable region between 2003 and 2013, before Auckland took over…
http://www.radionz.co.nz/news/national/328307/central-otago-lakes-homes-nz’s-most-unaffordable

 

Scoop.co.nz
April 6 2017
Central Otago Lakes now more unaffordable than Auckland
The latest Massey University Home Affordability Report shows Central Otago Lakes has now surpassed Auckland as the most unaffordable region in New Zealand. The report, which covers the period from December 2016 to February 2017, shows an improvement in national affordability over the quarter. This has been driven by a fall in house prices in seven regions, including Auckland. But over the last quarter, affordability declined in Central Otago Lakes by 8.2 per cent. “This was in contrast to a considerable 7.5 per cent improvement in Auckland’s affordability and, on the Massey index, Central Otago Lakes now ranks as the country’s least affordable region,” says report author Associate Professor Graham Squires from Massey’s School of Economics and Finance.
http://www.scoop.co.nz/stories/AK1704/S00167/central-otago-lakes-now-more-unaffordable-than-auckland.htm

 

Otago Daily Times
Central Otago least affordable for housing
April 6 2017
The Massey Home Affordability Report compares house prices with wage levels and takes into account the cost of borrowing to discover where houses are most out of reach. “Central Otago Lakes, including Queenstown now surpasses Auckland/Thames/Coromandel in the index as the most unaffordable region in New Zealand,” the report said. Auckland’s median house price dropped by $51,944 or 6.1 per cent in the last quarter, leaving median house prices to stand at $800,000. Associate Professor Graham Squires, who wrote the report, said: “Central Otago also has the largest decline in affordability over the 12-month period, which is a reflection of tourism industry demand in Queenstown, a shortage of housing supply, speculative investment demand, a focus on high-end lifestyle living in the area, and largely stagnant wage increases.”
https://www.odt.co.nz/regions/central-otago/central-otago-least-affordable-housing

 

Yahoo! News
Central Otago least affordable region
April 6 2017
The report, by Massey University, shows that Central Otago Lakes is 68 per cent less affordable than the rest of New Zealand, while Auckland is sitting at 55 per cent. This is due to the improvement in affordability in Auckland by 7.5 per cent, combined with the decline of 8.2 per cent in Central Otago Lakes. The median house price is nearly 14 times the median annual wage in Central Otago. “These two regions are the least affordable by a clear margin,” report author associate professor Graham Squires from Massey’s School of Economics and Finance said.
https://nz.news.yahoo.com/top-stories/a/34931693/central-otago-least-affordable-region/#page1

 

Landlords.co.nz
Auckland no longer least affordable
April 6 2017
Massey University’s latest Home Affordability Report is now out and it shows that Central Otago Lakes has surpassed Auckland as the most unaffordable region in New Zealand. Affordability in Central Otago Lakes declined by 8.2% in the quarter from December 2016 to February 2017 as house prices in the area rose by 30.4%. In contrast, Auckland’s median house price dropped by 6.1% ($51,944) over the quarter, which led to a 7.5% improvement in its affordability. The report author, Massey University associate professor Graham Squires, said Central Otago also had the largest decline in affordability over the 12-month period.
http://www.landlords.co.nz/article/6087/auckland-no-longer-least-affordable?utm_source=LL&utm_medium=rss&utm_campaign=Auckland+no+longer+least+affordable

 

Massey University
Central Otago Lakes now more unaffordable than Auckland
April 6 2017
The report, which covers the period from December 2016 to February 2017, shows an improvement in national affordability over the quarter. This has been driven by a fall in house prices in seven regions, including Auckland. But over the last quarter, affordability declined in Central Otago Lakes by 8.2 per cent. “This was in contrast to a considerable 7.5 per cent improvement in Auckland’s affordability and, on the Massey index, Central Otago Lakes now ranks as the country’s least affordable region,” says report author Associate Professor Graham Squires from Massey’s School of Economics and Finance….
http://www.massey.ac.nz/massey/about-massey/news/article.cfm?mnarticle_uuid=7F883632-B498-98B5-A93D-4B25CEF40F7E

 

Manawatu Standard 
Manawatu remains one of the most affordable places to buy property
April 7 2017
House prices are rising faster in Manawatu/Whanganui than in Auckland, but the region is still one of the most affordable places in New Zealand to buy a home. Massey University’s home affordability index has Manawatu/Whanganui becoming more affordable in the past year, with Southland the only region that was more affordable. The index uses wages, interest rates and house prices to measure how affordable home ownership in the regions is. While interest rates have the same impact across the country, the other two variables are more closely pegged to each region…
http://www.stuff.co.nz/manawatu-standard/news/91318443/manawatu-remains-one-of-the-most-affordable-places-to-buy-property 

 

New Zealand Herald
Land bankers sitting pretty
Monday Mar 6, 2017 By Diana Clement
Auckland needs more homes. So why aren’t developers developing? When demand is high, Economics 101 suggests that developers would be building every house New Zealand needs. The trouble is the risks and roadblocks involved mean that developers’ interests are nowhere near aligned with the wants and needs of politicians and the public. The hard cold figures are that Auckland needs another 35,000 houses currently, according to Treasury. The Unitary Plan notes that 420,000 more houses are required to meet demand by 2045, which is 15,000 completed year on year.
Link Here: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11809269 

 

New Zealand Herald
The pain deepens
Friday, 03 February 2017 By Steve Hart
Further declines in home affordability have been highlighted in a report by Massey University. The report covers last September, October and November and shows affordability dropped by 2.8 per cent nationally, with some larger declines in Taranaki, Northland, Southland, Nelson/Marlborough and Manawatu/Whanganui. The Massey University Home Affordability Report says Auckland and Central Otago Lakes remain the country’s least affordable regions and that Auckland’s median house price reached a new high in November of $851,944 – a year-on-year increase of $86,944. Author of the report, associate professor Graham Squires from Massey’s School of Economics and Finance, says there are nine regions that show greater annual increases than Auckland.
Link Here: http://m.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=11794167

 

RadioLIVE, Auckland hosted by Graeme Hill
27 Jan 2017 4:35 PM
RadioLIVE Drive
Interview with Graham Squires, Professor of Property, Massey University, about the home affordability study. Hill says the Home Affordability Report from Massey University shows affordability declined by 2.8 per cent between September and November 2016. Squires says they looked at house price values, which are supplied by interest rates and the OCR. He says they also looked at things related to average wages. Squires says there is no surprise that the house price inflation is still part of the story. He says the report has also found a slight downturn for regions such as Auckland and Central Otago Lakes when the annual figures are relayed to the quarterly figures. Squires says the report has also found Canterbury and Christchurch had a lower relative rise in the index, which indicated a rise in affordability. He says they had to be mindful of the actual absolute values they are working with. Squires says the spillover effects should be taken into consideration. Hill thinks Peter Thiel could change the market. Squires says they still have to think about land value requirements, transport, work and home relationships and the mismatch and imbalance contained within house prices. He says they work on aspects of housing, investments, finance development and valuation. Squires notes they are accredited by the Valuation Registration Board.
Interviewees
Graham Squires, Professor of Property, Massey University

 

Newstalk ZB (Auckland), Auckland hosted by Newsreader
27 Jan 2017 1:01 PM
13:00 News
Report from Massey University has found the affordability of house prices and wage levels dropped by 2.8 per cent nationally in the December quarter. Associate Professor Graham Squires says house prices in most regions are rising at faster rates than in Auckland.
Interviewees
Graham Squires, Associate Professor, Massey University

 

Taranaki Daily News, New Plymouth Taranaki
28th January 2017, by Tao Lin
Interviewees
Graham Squires, Associate Professor, Massey University

Housing Affordability_Jan 2017

 

stuff.co.nz
Provinces suffer big declines in housing affordability: Massey University
27 Jan 2017 11:02 AM
Housing affordability is declining across the country and hitting the provinces hard, according to Massey University research. The university’s Home Affordability Report showed affordability declined by 2.8 per cent nationally between September and November last year.
Link Here: http://www.stuff.co.nz/business/industries/88822579/provinces-suffer-big-declines-in-housing-affordability-massey-university

 

Voxy.co.nz
House prices continue to drive home unaffordability
27 Jan 2017 10:12 AM
Over the last quarter of 2016 housing affordability across New Zealand declined by 2.8 per cent, with big declines in some provincial regions.
Link Here: http://www.voxy.co.nz/business/5/273620

 

Massey University Press
House prices continue to drive home unaffordability
The latest Massey University Home Affordability Report shows further declines in affordability across New Zealand in the final quarter of 2016.
Link Here: http://www.massey.ac.nz/massey/about-massey/news/article.cfm?mnarticle_uuid=9CFF83B6-E5EF-2D73-D593-6FC3CA029018

 

Otago Daily Times
Housing affordability to drop further
Monday, 30 January 2017 By Simon Hartley
Rising mortgage rates seem set to stimulate already out-of-control housing affordability around New Zealand, resulting in households having to dig deeper when taking on new mortgage debt.
Despite mortgage rates and the official cash rate (OCR) being at record lows, mortgage rates are now gathering pace as the banks have to pay more to borrow from overseas. Although the OCR is not expected to move much this year, banks are already pricing in their costlier loans.
Link Here: https://www.odt.co.nz/business/housing-affordability-drop-further

 

Western Real Estate Business.
September 2015
Trade Report by Graham Squires. The Future Financing and Development of Cities: Insight from California and The Bay Area.
Download Here: Article