James Shares Ep #3 - Housing Wars: Auckland vs Wellington

Auckland or Wellington? Where can Kiwis actually afford to buy a home? We dive deep into the startling affordability gap between New Zealand's two major urban centers, comparing hard data that reveals which city gives homebuyers more bang for their buck.

Drawing from 2024 Infometrics statistics, we unpack the critical metrics that matter to potential homeowners. Wellington shows promising signs with an affordability multiple of 6.3 – meaning the average household earning $148,000 faces a property price of $931,000. This places our capital region within striking distance of what financial experts consider a reasonable debt-to-income ratio.

The picture changes dramatically when we look north. Despite Auckland's higher average household income of $163,000, its eye-watering average property price of $1.275 million creates a multiple of 7.8. This significant difference means Aucklanders must stretch their finances much further to enter the property market. We also explore how both regions have improved from the market peak of 2021, when affordability ratios were even more challenging, with Auckland reaching a multiple of 10.

Beyond the numbers, we consider what these statistics mean for Kiwis making decisions about where to live, work, and invest. Whether you're planning your first home purchase or considering a regional move, this data-driven comparison provides valuable context for navigating New Zealand's complex housing landscape. Have a region you'd like us to analyze next? Reach out and let us know!

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