First-home buyers decide owning as affordable as renting: QVMAARTEN HOLL/STUFF The median weekly asking rent in Wellington was $485 in March. Some first-home buyers are entering the property market because it's almost as affordable to own as it is to rent in some parts of the country, QV says. That compares to a median rent of $300 a week for central Dunedin, according to Tenancy Services. Auckland senior consultant James Steele said first-home buyers were looking for houses under $600,000, to get the KiwiSaver HomeStart grant. "First-home buyers are motivated to purchase with both rising rental costs and access to their KiwiSaver funds for deposits.

Source: Stuff May 01, 2018 17:02 UTC