That is what concerns me: if they can't afford a house, then why don't they buy an apartment?
There are apartments in Auckland for $300-400k, which is even cheaper than affordable KiwiBuild houses ($500-650k).
There are apartments in Auckland for $300-400k, which is even cheaper than affordable KiwiBuild houses ($500-650k).
I do agree that NZers have this strange desire for bungalows in the suburbs, commuting and mowing lawns. I'm in an apartment downtown and love it.
Also have you look at the minutes from BC meetings? Going through just a handful will turn you off purchasing an apartment in no time.