It looks like first-time homebuyers are being increasingly kept out of the Auckland housing market since only 1 out of 5 houses were sold to them.
• CoreLogic data shows Auckland investors bought 44% of all the houses sold in past 3 months, while only 19% were bought by first home buyers, down from a peak of 25%.
• Nationally, first home buyers dipped to 20%, & investors increased slightly to 39%, of all buyers.
• CoreLogic says Auckland house values had eased 0.7%, but it suspects the slowdown could be short-lived & would return to form after the election.
• Buyer demand in Dunedin & Wellington is still strong, where prices rose to 17% & 21% respectively, while first home buyers had spiked in the Capital, level-pegging w/ investors at 32%.
• The CoreLogic report shows that investor activity is on the rise, building consents are declining, & the country needs to build a thousand extra houses a month just to keep up w/ the burgeoning population.
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