By New Zealand Herald

Kiwi wages have risen $34.53 on average in the past year while house prices have skyrocketed $38,000. 

The dramatic comparison of real estate prices outstripping people's pay is revealed in Massey University's Home Affordability Report quarterly survey, released yesterday.

Written by Professor Bob Hargreaves, it showed a national deterioration in home affordability in the past year and a rising gap between house prices in larger urban centres and provincial centres. Read more...