Between the great L&P debate taking over social media this week and radio hosts conducting blind taste tests like national security depended on it, there’s been plenty of chat about fizz.
The property market feels a bit similar right now. Like cracking open a fresh bottle of L&P that’s lost just a little bit of sparkle. There’s still movement, especially from first-timers, but things aren’t exactly overflowing with energy.
First-home buyers still making moves
Despite a cautious market, first-home buyers are continuing to dominate activity.
New Cotality-Westpac data released this week showed:
Lower rates compared to 2024 are helping massively:
Low deposit lending is booming
RBNZ data released this week showed banks approved a record 1,537 low deposit first-home buyer loans in March.
That means:
Translation: buyers are still finding ways into the market, even without massive deposits.
That’s the TLDR this week.
Winter is coming, heat pumps are getting dusted off, and power bills are preparing their annual assault on Kiwi bank accounts. The good news? Unlike your electricity bill, mortgage rates haven’t suddenly given everyone a fright this week. The market’s still ticking along quietly, with first-home buyers continuing to bring most of the energy.
Disclaimer: This article is general market commentary only and is not financial advice. Property markets, lending criteria, and interest rates can change quickly, so always do your own research and seek advice based on your own circumstances before making financial decisions.