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Speaker 1: From today. Strict loan affordability regulations have gone from the

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Speaker 1: Credit Contracts and Consumer Finance Act, hairforth known as the

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Speaker 1: Triple CFA. Now this ends the bizarre inquisitions into your

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Speaker 1: personal life that the bank's indulged in before denying you alone.

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Speaker 1: So everyone's glad to see the back of those This

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Speaker 1: is good news for first home buyers. The loan to

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Speaker 1: value ratio rules have also eased, so again good news

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Speaker 1: for first home buyers and investors. So the question is

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Speaker 1: how green are these green shoots in the housing market. Well,

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Speaker 1: I read a report today which said home ownership for

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Speaker 1: typical first home buyers has gone from being solidly in

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Speaker 1: unaffordable territory at the start of the year to just

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Speaker 1: marginally unaffordable in June. Happy days, still tough. Meanwhile, facts out.

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Speaker 1: So it turns out the first home buyers are increasingly

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Speaker 1: buying townhouses. Townhouses made up to six percent of all

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Speaker 1: new dwelling consents in twenty twelve. Now they make up

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Speaker 1: nearly half forty five percent. They are I have to say,

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Speaker 1: the most of England is made up of terraced houses

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Speaker 1: and townhouses, most inner suburbs. In Australia, they're grander than apartments.

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Speaker 1: You're not sharing corridors, you don't have people stomping on

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Speaker 1: the roof above you, you don't have to get into

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Speaker 1: lifts with strangers. They are just like houses, only smaller,

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Speaker 1: with a couple of shared walls. But many in New

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Speaker 1: Zealand don't like the idea. They're persisted with the dream

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Speaker 1: that their immigrant parents have back in the fifties and sixties,

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Speaker 1: getting away from the terraced home and getting a standalone

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Speaker 1: house with a garden in space and a dog. But

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Speaker 1: you know, as our cities get larger, we end out

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Speaker 1: living in suburbs far far away from the center, stuck

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Speaker 1: in cars, growing congestion, not living the Kiwi dream. A

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Speaker 1: new generation just wants enough rooms for a family and

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Speaker 1: a tolerable commute. They want a roof. Many of us

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Speaker 1: lucky enough or old enough to have the standalone houses.

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Speaker 1: We've been standing in the way of intensification in our suburbs.

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Speaker 1: We've been Nimbi's. We are standing in the way of

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Speaker 1: a generation who want the choice. Let the market decide.

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Speaker 1: You may not choose to live in a townhouse, but

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Speaker 1: you're not twenty four with a baby and a limited

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Speaker 1: budget and you'll want a roof. And I understand that

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Speaker 1: an earlier paradise is being corrupted, but I also understand

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Speaker 1: it was always inevitable. For more from Hither Duplessy Allen Drive,

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Speaker 1: listen live to news talks it'd be from four pm weekdays,

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Speaker 1: or follow the podcast on iHeartRadio