The head of the industry organization Property Institute of New Zealand in that country’s largest city, Auckland, says there’s a risk of market collapse if government has a “knee-jerk” reaction to unaffordable housing prices. Ashley Church said a range of approaches is necessary to slowly bring down prices while increasing average local salaries. Auckland stands fourth on the international list of least affordable housing with the average price of a home requiring 9.7 times the median household income. Hong Kong tops the list published by the housing think-tank Demographia.
