While many South Auckland homeowners will be pleased to see the capital value (CV) of their houses skyrocket, they might not be as pleased to see how much it could add to their rates bills. Photo: LDR / Stephen Forbes
As inflation bites and house prices stay stubbornly high, banks are now encouraging less tradition methods of home ownership.
Currently, if a median-income household saved 15 percent of their income, it would take 11 years to save for a standard deposit. It gets even more bleak for singles, as it could take double that time.
Kiwibank Mobile Mortgage Manager, Philippa Scott speaks to Karyn about how co-ownership could be a solution.
