Aucklanders may live in million-dollar homes, but many are far from being millionaires thanks to their huge home loans.
Auckland Council's revised valuations indicate the average Auckland home's value has reached $1,076,000, a staggering 85 per cent rise compared to the average of $581,040 back in 2014.
But higher prices have led to homebuyers taking on larger and larger loans.
from
http://www.stuff.co.nz/business/money/98993731/Auckland-Mega-city-mega-mortgages-mega-headaches
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