Renting still a better bet than buying, but gap closing, says BNZ
Mortgage rates are tracking down, but renting a comparable home is still cheaper, the bank’s research shows.
The rental/purchase gap has shrunk slightly over the past 18 months.
Bank of New Zealand says renting remains a more affordable option than purchasing a home, with ownership costs sitting at about 43% of average household income, versus 25% for the average monthly rental bill.
The analysis by BNZ, the country’s fourth-largest mortgage lender with about 15% of the
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