Housing affordability not a single number

“Housing affordability not a single number,” says Wellington City Councillor

Wellington City Councillor and Housing Portfolio leader Brian Dawson says a single number for housing affordability is not the right approach.

A media report today stated $650,000 as the figure for what makes a house “affordable” in Auckland city.

Cr Dawson says: “I think the problem is people are confusing affordable with ‘cheaper than average’. A $50 steak might be considered cheap if everywhere else is charging $75, but it doesn’t make it any more affordable for someone whose budget is maxed out at $30”.

“In Wellington, we’re developing a more nuanced model that starts with the total household income and looks at what they can actually afford given their earnings. That number will be different depending on which population group you are looking at.”

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