Source: MIL-OSI Submissions
Housing costs rise, impact felt strongly by renters – Media release
24 February 2022
The average weekly rental cost has risen 84.3 percent since the year ended June 2007, Stats NZ said today.
This increased faster than household disposable income (equivalised and not adjusted for inflation) which increased 67.6 percent over the same period. Households that had mortgages for the same period would have experienced, on average, a 42.5 percent increase.
Mortgage payments have been relatively unchanged since year ended June 2016 (up 0.9 percent). This is due to lowering interest rates and principal expenditure increasing, through the purchase of additional mortgages or borrowing more due to rising house prices. Lowering interest rate payments offset increasing principal payments, resulting in a flat trend.
Visit our website to read this news story and information release or to download CSV files:
