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The five places where first-home buyers are winning the most
The five regions where first-home buyers are buying the biggest share of homes in New Zealand.
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First-home buyers are purchasing a record 28.3% of homes, the highest share in over 20 years, according to new Cotality data. This buyer's market is driven by lower prices, increased housing stock, and more flexible bank lending.
The top regions for first-home buyers are:
- Upper Hutt (41.9%)
- Porirua (41.7%)
- Kawerau (39.1%)
Even in Auckland, first-home buyers now account for nearly one-third of all sales, showing a significant nationwide shift in market dynamics.
Upper Hutt mayor Peri Zee says new migration into the area from other countries makes up part of the first-home buyer demand in the area. Photo: Upper Hutt City Council
New development in Upper Hutt’s Wallaceville has also helped housing supply in the area. Photo: BRUCE MACKAY / The Post
This beautifully renovated 2 bedroom unit in Upper Hutt’s Fergusson Drive sold for $355,000 in April. It is a cross lease title. Photo: CK & Co/TRADE ME
This 4 bedroom property in River Road, Kawerau sold in May for $380,000. It is on a large section, and needs a bit of love, but is very liveable. Photo: Harcourts/homes.co.nz
Kawerau is just 30 minutes drive from the much-bigger economy of Whakatāne, where many residents work. Photo: Christel Yardley / WAIKATO TIMES
Cameron Brain of Ray White Austar operates in Auckland's western suburbs, and says townhouses there are starting to sell more regularly. Photo: Ray White
Michelle Isomonger of Loan Market mortgage brokers says the flow of people out of Auckland has now slowed. Photo: Supplied
Emma Lu of Plaxo mortgages says many first home buyers who couldn't afford homes during the peak of the market have been saving for years, and can now make their move. Photo: Supplied
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