ABCDEFGHIJKLMNOPQRSTUVWXYZ
1
Incomes
House prices
Ratio
2
YearBase ($)% real increaseBase ($)% initial shockNotes
3
2021970520.02582000008.4
2021 income and house price data from: https://www.interest.co.nz/property/house-price-income-multiples
4
2022994788200008.2
2.5% pa real (inflation-adjusted) income increase is average of last decade (Bryan Perry, Household incomes in New Zealand: trends in indicators of inequality and hardship 1982 to 2018, MSD, 2019, p.88)
5
2023101965820000% real decrease8.0
0% pa real (inflation-adjusted) house price decrease is equivalent to 2% pa nominal increase if inflation is 2%, the RBNZ target
6
20241045148200000.007.8
7
20251071278200007.7
Results in 2021 prices
8
20261098058200007.5
9
20271125518200007.3
10
20281153648200007.1
11
20291182488200006.9
12
20301212058200006.8
13
20311242358200006.6
14
20321273418200006.4
15
20331305248200006.3
16
20341337878200006.1
17
20351371328200006.0
18
20361405608200005.8
19
20371440748200005.7
20
20381476768200005.6
21
20391513688200005.4
22
20401551528200005.3
23
20411590318200005.2
24
20421630078200005.0
25
20431670828200004.9
26
20441712598200004.8
27
20451755408200004.7
28
20461799298200004.6
29
20471844278200004.4
30
20481890388200004.3
31
20491937648200004.2
32
20501986088200004.1
33
20512035738200004.0
34
20522086628200003.9
35
20532138798200003.8
36
20542192268200003.7
37
20552247078200003.6
38
20562303248200003.6
39
20572360828200003.5
40
20582419848200003.4
41
20592480348200003.3
42
20602542358200003.2
43
20612605918200003.1
44
20622671068200003.1
45
20632737838200003.0
46
20642806288200002.9
47
20652876448200002.9
48
20662948358200002.8
49
20673022058200002.7
50
20683097618200002.6
51
20693175058200002.6
52
20703254428200002.5
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100