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'Conceivable' that average Auckland house deposit could reach $1 million, warns expert

Author
Newstalk ZB,
Publish Date
Mon, 6 Nov 2023, 6:01pm
 (Picture / File)
(Picture / File)

'Conceivable' that average Auckland house deposit could reach $1 million, warns expert

Author
Newstalk ZB,
Publish Date
Mon, 6 Nov 2023, 6:01pm

A report has suggested the average Auckland house deposit could reach $1 million by 2045.

The report was shared exclusively with One News.

Enable.Me financial adviser Katie Wesney says it's not an inconceivable amount.

"A million dollar deposit in 22 years, that's a 6.5 percent rate. And in all reality in the last 10 years, Auckland house prices have risen by 7.8 percent."

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