I live in New Zealand.
The average house price is nearly NZ$900k, with the big cities being more. The median wage is about NZ$63k.
Jobs, family etc are around the cities. There is a minimum deposit requirement before you can get a mortgage (at 20% or less it’s hard but possible. Below about 5% no one will lend).
Houses are way overpriced and average quality is low (insulation, heating/cooling, water tightness etc). Paying for a house on a single income is out of reach for huge swathes of the population and would also leave a household vulnerable if the earner was unable to work.
Your ideal of paying for a house with one wage is something left behind in 1950 New Zealand. Jobs, children, lifestyles etc are all dictated by rent and mortgage requirements. It’s depressing how inflated housing costs are.
Jobs, family etc are around the cities. There is a minimum deposit requirement before you can get a mortgage (at 20% or less it’s hard but possible. Below about 5% no one will lend).
Houses are way overpriced and average quality is low (insulation, heating/cooling, water tightness etc). Paying for a house on a single income is out of reach for huge swathes of the population and would also leave a household vulnerable if the earner was unable to work.
Your ideal of paying for a house with one wage is something left behind in 1950 New Zealand. Jobs, children, lifestyles etc are all dictated by rent and mortgage requirements. It’s depressing how inflated housing costs are.
https://www.qv.co.nz/price-index/
https://www.newzealandshores.com/new-zealand-job-search/sala...
https://www.westpac.co.nz/home-loans-mortgages/first-home/ki...