A typical Auckland worker would need to spend almost seven years in a full-time job, to earn as much as a Herne Bay house in the past year
A typical Auckland worker would need to spend almost seven years in a full-time job, to earn as much as a Herne Bay house in the past year
9 October 2020
Home values in New Zealand's most expensive suburb hit a median two point five six million dollars in June.
Prices in the high end suburb have jumped 430-thousand dollars from their value 12 months earlier.
As well, neighbouring St Marys Bay's values hit two point three two million in June, jumping 320-thousand dollars - or five times the annual Aucklander's salary.
Valocity connects lenders, valuers, and brokers with their customers.
Spokesperson James Wilson says the price jumps show how fears of an economic fallout from the Covid-19 pandemic barely dented housing market confidence.
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