Housing affordability is improving, but it's not the same story for renters. 

New CoreLogic data for the fourth quarter of last year shows falling property values, rising incomes and lower mortgage rates have seen affordability at its best level since pre-Covid. 

It says the median home value is around seven times the median annual household income, well down from the market peak in 2021. 

But renters are still facing some strife, with the rent-to-income ratio at a record 28%. 

Chief property economist Kelvin Davidson told Mike Hosking this is due to previous increases in rents. 

He says rents tend to flatten off more than fall, and that's what seems to have happened over the past year and a half. 

LISTEN ABOVE 

Housing affordability is improving, but it's not the same story for renters.&nbsp;
New CoreLogic data for the fourth quarter of last year shows falling property values, rising incomes and lower mortgage rates have seen affordability at its best level since pre-Covid.&nbsp;
It says the median home value is around seven times the median annual household income, well down from the market peak in 2021.&nbsp;
But renters are still facing some strife, with the rent-to-income ratio at a record 28%.&nbsp;
Chief property economist Kelvin Davidson told Mike Hosking this is due to previous increases in rents.&nbsp;
He says rents tend to flatten off more than fall, and that's what seems to have happened over the past year and a half.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

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Kelvin Davidson: CoreLogic Property Economist on the increasing housing affordability, high rent-to-income ratio

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/aa35d150-4178-451e-8fb6-b29e01333640/transcript