A report suggests that first-time homebuyers may never be able to save enough for a deposit on an average-priced house in Auckland. It predicts that
A report suggests that first-time homebuyers may never be able to save enough for a deposit on an average-priced house in Auckland. It predicts that by 2045, the average deposit for an Auckland house could be $1 million. The report argues that alternative ways of saving and third-party assistance may be needed, as saving a 20% deposit on a house becomes mathematically challenging for many buyers. House prices in Auckland are high, with demand outstripping supply, and innovative solutions may be required to address the issue.
