Prime Minister John Key says first home buyers in Auckland might need to consider an apartment to get onto the property ladder.
The latest figures show CVs across the city have risen an average of 34 per cent since 2011.
First home buyers needed to look at different options for getting onto the property ladder, he told TVNZ’s Breakfast show today.
“Some people will have to consider going into an apartment for instance, that has been the international change.
“If you're a young person buying your first place in Sydney or Melbourne or Brisbane, in most instances you'll be going into an apartment.”