Rent increases constantly make the headlines, especially in Auckland where the current median is around $700 per week. How closely is this related to incomes?
I guess unsurprisingly it seems both are fairly closely correlated. It is also interesting to see the relationship between house price growth and employment growth. This relationship is a little less in synch.
Kieran Trass was kind enough to share this data along with his thoughts with me. Interestingly when looking at the house price growth, it seems to have been running opposite to employment growth in the past year. This could lead some to believe that some form of a catchup is around the corner.