Tourism, “high-end” lifestyle properties and speculative housing investment have made Central Otago the most unaffordable housing region in New Zealand, according to a study by Massey University in Wellington.
The report covers the economic quarter from December 2016 to February 2017 and shows house prices in Central Otago have increased by more than 30 per cent.
Announcing the findings, Massey economist Graham Squires said that home affordability in the region had declined by 8.2 per cent.
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