Aucklanders could need a minimum $172,000 income to afford an average-priced home under new central bank rules. Photo / Fiona GoodallAucklanders could need a minimum $172,000 income to afford an average-priced home under new central bank rules. Photo / Fiona GoodallAucklanders would likely need to earn a minimum $172,000 a year to buy an average priced house under the Reserve Bank’s new debt-to-income lending rules. House prices have typically grown 7-8 per cent each year, or almost double the 3-4 per cent growth in incomes. The new rules should instead see house prices and incomes grow at more similar paces, Davidson said.

Source: New Zealand Herald February 11, 2024 22:39 UTC