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 data. This success was driven by factors including:
- Using KiwiSaver for deposits
- Accessing low-deposit loans
- Considering new-builds exempt from LVR rules
While 2024 may bring more competition from investors, conditions remain favourable for FHBs. An increased allowance for low-deposit lending and potential mortgage rate drops later in the year suggest another strong year for those entering the property market.
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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