

4·
1 month agoNZ$5m is not that high. Auckland’s median house price hit $1m recently, $5m is not a stretch for an expensive inner city or beachside suburb. Queenstown average is $1.6m. Building costs in NZ are very high because most materials need to be imported, and property values keep growing for a complicated mix of reasons - immigration, neoliberal policies, etc.

Christ that’s grim.