The latest figures from the Reserve Bank show 2445 mortgages were approved for first home buyers in June, at an average value of $566,000. That's well up (+30%) on the 1885 mortgages approved for first home buyers in June last year. That means first home buyers' likely share of the housing market has increased from 36% in June 2019 to 43% in June 2023. Interest.co.nz estimates that the average price paid by first home buyers declined $36,000 over the same period, from $717,500 in April last year to $681,500 in in June this year (-5.0%). To start receiving them, register here (it's free) and when approved you can select any of our free email newsletters.

Source: Stuff July 28, 2023 08:27 UTC