Why work when you can just own houses?
Median price up 19.3% in 2020 so house 'earned' $121,000; Homes 'earned' $250b tax-free since Labour elected; Rents up 3.4% since lockdown & up 10% since Sept 2017, despite mortgage rates halving
TLDR: REINZ figures today show New Zealand’s median house price rose 19.3% or $121,000 to $749,000 in 2020 despite the biggest economic shock in living memory and virtually no net migration since March. December quarter inflation was the fastest on record and the market is on track to surpass the record annual inflation rate of 24% set in 2004.
Keep reading with a 7-day free trial
Subscribe to The Kākā by Bernard Hickey to keep reading this post and get 7 days of free access to the full post archives.