Baby boomers have started retiring and a lot more will follow.
Many of them will be in Auckland. Not all of them will want or need to stay there.
These mobile retirees could sell a home there and buy something at least as good for a lower price elsewhere.
Look at what $455,000 or $165,000 could buy in Oamaru and contrast that to what you’d get for a similar amount in Auckland.
Selling up and shifting out would take some of the pressure off the housing supply in Auckland and add to the population of smaller towns and cities which would welcome inward migration.
The difference between the price gained for the house sold in Auckland and one bought elsewhere would give the mobile retirees money to spare to enjoy a less frugal retirement.
This won’t make housing more affordable by itself, but add it to other measures and it could help.
Maybe it is not all about affordability for the Baby Boomers HP..
It could have something to do with staying close to ones family.
Auckland is one of the largest cities in area in the world..
With a Mayor on one of the largest salaries on a per head basis..
POTUS only draws US$ 400,000.
It takes an hour to cross on the motorway..
GO UP !!..