Opinion
KEY POINTS:
For the first time this year, the dream of owning a home has moved within the reach of average New Zealanders, instead of moving further away.
The BNZ Home Loan Affordability measure improved in May from April, which was the first monthly improvement in 2009.
A slight fall in the median house price and flat interest rates helped reduce the proportion of after-tax pay needed to service a mortgage on a median home to 55.9 per cent in May from 56.4 per cent in April.
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