The trend is also evident in the unit market , where apartments and attached residences priced between $ 500,000 and $ 1 million dominate . This market segment has experienced a steady rise in transaction volumes , outpacing others by a significant margin .
Meanwhile , units priced below $ 500,000 , once accounting for 77 per cent of transactions in 2013 , now only make up 28 per cent . This shift underscores a growing affordability crisis , as fewer transactions occur in the lower price range .
Luxury units valued in excess of $ 1 million have remained relatively stable compared with other price brackets . In sum , the data shows a housing market becoming increasingly out of reach for many buyers .
With dwindling options below $ 500,000 and the dominance of the $ 500,000 to $ 1 million range , first-time buyers and those with limited resources face significant hurdles in growing a deposit . Meanwhile , the demand for luxury properties signals rising affluence amongst certain market segments .
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Photo : 39 Maungakiekie Avenue , Greenlane | Proudly marketed by Dean Tuffley , Ray White Mt Eden