Housing affordability - Nelson 2nd behind auckland
...The index, compiled by Massey University's real estate analysis unit, looks at how prices, interest rates and wages affect people's ability to buy a home. A stable median dwelling price of $195,000 in the first quarter led to a 0.7% rise in affordability in the same period...
Sunday, April 20th 2003, 5:31PM
by The Landlord
The other is sun-drenched Nelson, where a "sunshine" subsidy sees people willing to take a lower salary in return for the less tangible but still real benefits of living there.
In the past year, Nelson has moved from seventh to second-least affordable place to live, bumping out Wellington into third place. Affordability in Nelson fell 14% in the latest quarter, and 50.6% during 2002. Nelson's median house price rose from $147,000 to $200,000 in the past year.
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