Interesting data from MBIE.
First of all it shows high levels of unaffordability in all four cities since 2003 – well over 70%.
Nationally unaffordability increased the most from 2003 to 2008. It then declined for a couple of years and has been stable since.
In Christchurch and Wellington, unaffordability has been declining since 2008.
In Auckland it increased from 2003 to 2008, decreased from 2008 to 2012 and has increased since 2012.