This is a couple of weeks old, but…
Brian Fallow in the NZ Herald reports that over the past 10 years the share of the average household’s disposable income (combined income if there are multiple earners) required to pay the moprtgage has climbed from 9% to 14%. The corresponding figure in Australia is 12%. The average house price is six times the average household disposable income, compared with 5.7% in Australia. He quotes someone from the Researve Bank as saying “its rapid climb strongly suggests that house prices may be overvalued leading to a correction at some point.”
Full story at- http://www.nzherald.co.nz/