Lower mortgage rates and income growth have helped improve housing affordability. 

Cotality NZ’s new report finds the national value-to-income ratio reached its lowest point since mid-2019 in the June quarter, at 7.5%.  

National property values also remain almost 17% below their post-covid peak. 

Cotality Chief Property Economist Kelvin Davidson told Mike Hosking mortgage serviceability has seen a significant change, compared to its 2022 high of 57%. 

He says it now takes around 44% of the median household income, so it's getting close to normal. 

LISTEN ABOVE 

Lower mortgage rates and income growth have helped improve housing affordability.&nbsp;
Cotality NZ’s new report finds the national value-to-income ratio reached its lowest point since mid-2019 in the June quarter, at 7.5%. &nbsp;
National property values also remain almost 17% below their post-covid peak.&nbsp;
Cotality Chief Property Economist Kelvin Davidson told Mike Hosking mortgage serviceability has seen a significant change, compared to its 2022 high of 57%.&nbsp;
He says it now takes around 44% of the median household income, so it's getting close to normal.&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,...

The Mike Hosking Breakfast

Kelvin Davidson: Cotality Chief Property Economist on the housing value-to-income ratio reaching its lowest since mid-2019

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/5c2d939a-20b8-48bb-ad57-b3460154afea/transcript