How unaffordable is the Franklin housing market?

 

 

Auckland has recently been named as the fourth most expensive city in the world in which to buy a house, compared to the median income.

And that result isn’t set to change anytime soon. With the demand for owning a home in Auckland still on the rise, it is no wonder that poring over property listings has become a new pastime for residents.
Nearly a third of Auckland homeowners have reported that they search for property ‘all the time’, whether they are in the market or not.
Increasing numbers are also turning to more sophisticated online tools in their searches, to pinpoint the exact areas and properties of most interest.
Here at The Post, we asked our readers how the ranking affected them in the Franklin area, especially for first home buyers.
Stacey Plowman: “My husband, kids and I are planning to buy our first home in three years. We are busy contributing to our kiwi saver and savings account, and we thought that we would just make enough for a 20% deposit. But Waiuku house prices are already pretty high (close to $500k) and I imagine in three years time, owning a home will be completely out of our reach (not to mention the high repayments). My husband is in a specialist industry, so it’s not like we can just up and move. We are still going to keep to the plan, but we will have to keep in mind that buying in Franklin may never happen for us. FYI – my brother and his family just brought a nice three bedroom house in Rotorua for $280k! Lucky buggers.”
We want to hear your thoughts and views on this topic – please send them through to news@thepost.nz

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