The national trend was replicated across the main centres, with first-home buyers' market share above long-term averages by at least two percentage points. In Auckland, first-home buyers' market share was 27.5 per cent and in Christchurch it was 28.3 per cent, up from 24.3 and 23.1 per cent respectively. Kate Green/Stuff Wellington first-home buyers had a 33 per cent share of the market in the three months ending September. Davidson said first-home buyers had been capitalising on strong financial incentives to buy rather than rent and filling the gap left by a decline in mortgaged investors’ market share. That, along with rising mortgage rates, would make it harder for many first-home buyers to get into the market, he said.

Source: Stuff November 09, 2021 07:45 UTC