Whānau consortium one solution for Auckland housing crisis nightmare

Whānau consortium one solution for Auckland housing crisis nightmare


It is official. Auckland is one of the most
expensive cities in the world. A report has found our biggest city is the fourth most unaffordable city
on the planet. A Maori mortgage broker says buying as a whanau consortium
maybe one solution to getting on the Auckland
property ladder. Irena Smith reports. Buying a home in Auckland is
becoming a distant dream for some. According to a recent survey, out of 92 major housing
markets worldwide, Auckland is the fourth
least affordable city. Tahei Simpson is a mortgage broker. She has observed a spike
in prices with housing markets along with mortgage lending rules
tightening up. She says one solution is for whanau
to establish whanau consortiums. Other cities are experiencing
housing price growth, such as Wellington, Christchurch,
Hamilton and Tauranga. Families need to explore a multitude
of options to realise the dream. When one door closes another opens. Irena Smith, Te Karere.

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