$500 a day median house price increase

In the last 12 months the median house price has gone up by $181,000. This is around $500 a day,

Based on a 40 hour week, this is $87 every working hour. So if you earn less than $87 an hour, the house you are trying to buy is increasing faster than you can earn. Actually it is worse than that as you need to pay tax. So you need to actually earn $130 an hour (and have no expenses) to earn enough to keep up with the house price increases.

National got rightfully lambasted for annual house inflation of 8%. It is now 29%.

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