Properties in NZ more affordable but shortage looms

[Nicholas Wallwork]

Residential property in New Zealand is as affordable now as it was six years ago with prices static and the*market subdued, according to a new report.

The latest Home Affordability report from Massey University shows that the national affordability index has*improved 11.1% over the past year, improving by 2.7% during the quarter ending May 2010 and is now about the*same level as it was in 2004.

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