What is deemed most affordable property in Auckland may still be out of reach for many first home buyers.
• With more listings & fewer properties selling at auction it’s arguably a good time to buy in Auckland.
• However, the drop in values in parts of the housing market has not yet equated to an increase of sales to first home buyers.
• Latest data shows Auckland investors account for a 43% share of all sales & first home buyers have dropped back to a low of 19%.
• QV data shows a drop of values in 3 months, making 3-bedroom home at the most affordable price of $700k, w/c still costs around $919/week or $47,788/year.
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