Ryan Edwards
Wednesday 19 November ‘25
The latest Cotality–Westpac First Home Buyer Report brings good news for anyone dreaming of owning their first home. Since May, more people have taken that first step, and banks are lending to firsthome buyers at levels not seen for over three years. Firsthome buyers now make up nearly 28 % of all house sales, beating last year’s record.
Firsthome buyers are out in force across New Zealand. In Hamilton they’ve made about one in three purchases this year. Wellington’s share is even higher, and in Auckland, Dunedin and Christchurch they’re not far behind. Smaller centres like Rotorua, Palmerston North and Napier have also seen more firsttimers enter the market.
Most firsthome buyers still want a place of their own. Nearly threequarters of their purchases this year have been standalone houses. In Hamilton and Dunedin that figure is closer to 90 %. In Auckland and Wellington, apartments and townhouses make up a bigger share, but houses remain the favourite.
Firsttimers aren’t just going for the cheapest homes either. They’ve increased their presence across all price brackets, taking a bigger slice of affordable properties and lifting their share of higherpriced homes.
The typical firsthome buyer is paying about $700 000, only slightly more than last year. Auckland remains the most expensive city for newcomers, with a median price of $885 000, but prices in Hamilton, Wellington and Tauranga are lower, and some provinces still have options around $460 000.
Economists expect house prices to rise only modestly in the next year. Interest rates may ease a little further, but they’re already well down from their peak, and many people are still switching to lower rates. Even if other buyer groups return and the firsthome buyer share slips, there is still plenty of opportunity. With rates lower, deposits more manageable and a steady supply of homes, it’s a great time to start your property journey.
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