Buying guide
Another good year for first home buyers ahead?
CoreLogic data shows that first home buyers accounted for a record high 26% of property purchases across NZ in 2023.
AI summary
First home buyers (FHBs) achieved a record 26% market share in 2023, according to CoreLogic. This success was driven by using KiwiSaver for deposits, accessing low-deposit loans, and considering new-builds which are exempt from LVR rules.
Looking ahead, 2024 is expected to be another strong year for FHBs. While investor competition may rise, banks will have increased capacity for low-deposit lending. Potential mortgage rate drops later in the year could also improve borrowing power for aspiring homeowners.
So, what have those successful First Home Buyers been doing, and what might happen in the year ahead?
New build, lower deposit?
But now, let’s think about the year ahead, how might things look for First Home Buyers?
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