Housing affordability hit an all-time low in early 2022, with the average price more than doubling in the past decade. Sales have cooled from a high in February. However, rising interest rates, inflation, and stricter lending laws mean it isn’t getting any easier for New Zealanders who aren’t already perched on the property ladder to grasp a rung.
Both necessity and relentless ingenuity have led people of all ages and stages to think outside the standard four walls and a roof. They could rent a room in a flat, stretch to get a hefty mortgage, put the sleepout on Air BnB, or live in a caravan. But these Kiwis have rolled the Number 8 wire out a little further.