Oxford Housing Crisis Analysis
As per a report published on 21st March 2017 by The Telegraph, …show more content…
Mbie.govt.nz shows that on average, a house in Auckland has a weekly rent of $517, whereas the average weekly rent in the whole of the South Island is only $317. In Auckland, a minimum funding of $1 million and higher is required to buy a house, whereas, in the South Island, approximately $800,000 is required to buy a house with similar Luxuries.
Affordability can be a huge challenge for many first time homeowners, where the rising consumption levels may hinder with their financial stability, leading them to borrowing loans with high interest rates to afford themselves and their families a home, a shelter. The housing market is on a uprise in regards to the price which is caused by many things. If we don't take action and start to do something about this we ourselves will not be able to afford houses or be in problems on rent. New Zealand needs to grow as a country but the housing prices