The affordable housing gap reached some $740 billion globally in 2018 with Amsterdam, Auckland and Hong Kong amongst the least affordable places to buy a home.
Property sales in New Zealand slowed down at the end of 2018 with December seeing the lowest number of transactions for the month for seven years, the latest index shows.
The national median house price in New Zealand reached a record high of $575,000 in November, up 6.5% from $540,000 at the same time last year, the latest index data shows.
Housing market dangers are “especially acute” in Australia, Hong Kong, Canada and Sweden, Oxford Economics said, noting this has historically posed a threat to economic activity.
Homebuyers hope new law will allow market to cool, helping those consigned to a life of insecurity
New Zealand's parliament has banned many foreigners from buying existing homes in the country - a move aimed at making properties more affordable.
The amended law would allow non-residents to own up to 60 percent of large, new apartment buildings. There is currently no ban on foreign ownership of land, houses or apartments
Quotable Value's (QV) residential property price index grew 7.6 % in the year to April, as the pace of recovery picked up from a lull towards the end of 2017
Quotable Value's (QV) residential property price index rose 7.3 % in the year to March, as it steadily recovered from a lull towards the end of 2017 when buyers held off on large investments during an uncertain election period
New Zealand house prices surged for the third month in a row in January, with the commercial centre of Auckland posting its fastest growth in more than a year, the government property valuer said on Friday.
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