New Zealand, looking for mortgage mates on dating apps

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When Harry re-meets Sally in New York he tells her that the real estate ads should be linked to the mortuary ones to optimize searches. Now give it New Zeland comes another combination that seems unusual: they look up Tinder perfect companions to split the mortgage. Eternal love has nothing to do with it, poor economic prospects have to do with it.

Young New Zealanders face sky-high housing costs. The price of a house in Auckland is 11 times higher than the average income and there are nearly 23,000 families waiting for accommodation.

Many turn to Tinder, a dating app for a union that may not be of eternal love, but must last until the mortgage is paid off.

Data from Tinder says that users looking for partners to buy a house in their profile have more than doubled. They grew 2.6 times on an annual basis between June 2020 and June 2021 according to the British Guardian. The messages? “I’m looking for someone to combine salaries so I can buy a house using the program Kiwibuild with the $ 180,000 limit for couples, ”says one. “It seems to be easier to buy a house with someone. I’m a guy who loves the outdoors trying to settle down, ”says another.

KiwiBuild is a program of building expansion started by the government in 2018 with the aim of building 100 thousand houses by 2028. These are houses at a price that is accessible to a large part of the population. To gain access, you must be a New Zealand citizen with an income of $ 120,000 for singles and $ 180,000 for couples.

According to a recent survey for young New Zealanders, housing is the first of the problems, in front of Covid, crime and the cost of food. Coming together, whether with true love or in a platonic way, is the logical answer for New Zealanders who increasingly fear being cut off from real estate market which has seen a 22% increase in the cost of housing to over 900 thousand New Zealand dollars. The banks ask for a deposit of 20% which is more than 180 thousand dollars. That’s 3.2 times higher than the average annual earnings in New Zealand.

Gemma Rasmussen, spokesperson for Consumer NZ, explains: “I am collecting instances of people who get together, even groups of friends, to buy houses. By themselves they cannot. ” Research is also in small centers to have lower prices, but also to lower the market price across the country. «We are moving towards a double New Zealand: that of those who own real estate, who see their capital increase, and those who are excluded from the possibility of having a home even if they have a job.

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