First home buyers’ market

This week’s column explores how to get on the property ladder as national confidence lifts and what it means for Taupō

Insights with Infinance by Brian Coogan

First-home buyers are once again a driving force in New Zealand’s housing market, accounting for 28.4% of property purchases nationwide in the Dec 25 quarter.

After several cautious years, a combination of improved affordability, lower interest rate pressure, and increased choice has created a window of opportunity for buyers entering the market for the first time.

Across the country, house prices remain steady, giving first-home buyers more negotiating power and less competition from investors.

At the same time, access to KiwiSaver funds and low-deposit lending options has made home ownership achievable for many households who previously felt locked out.

Preparation is the single biggest advantage a first-home buyer can have in today’s market.

We recommend that buyers start with finance pre-approval, which provides certainty around budget and strengthens their position when making an offer.

Understanding the true cost of ownership, including rates, insurance, maintenance, and potential interest rate changes, is just as important as finding the right property.

Taupō: Balanced, active, and buyer-friendly

Locally, the Taupō market is showing steady momentum.

Sales activity has lifted throughout last and into this year, and well-priced homes are attracting solid interest without the pressure of frenzied bidding.

While median prices remain resilient around the $850k range, first-home buyers are finding opportunities in entry-level homes, surrounding suburbs and development projects such as Oroko Rise behind Kokomea which is specifically aimed at first home buyers.

Local agents describe current conditions as balanced — offering buyers time to complete due diligence while still rewarding those who are organised and ready to act.

With careful planning and good advice, first-home buyers in Taupō — and across New Zealand — are well-placed to turn today’s market conditions into tomorrow’s home ownership success.

For more on the above go to www.infinance.co.nz/insights .  

 Written by Brian Coogan, Licensed Financial Adviser and Director at Infinance  - Taupo

A home is a place to start your story – Anita Renfroe