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Number of first home buyers getting into a home of their own at an eight year low
The number of first home buyers getting into a home of their own at the start of this year was at its lowest level since 2015.
According to the latest Reserve Bank figures, banks approved just 1166 mortgages … View moreNumber of first home buyers getting into a home of their own at an eight year low
The number of first home buyers getting into a home of their own at the start of this year was at its lowest level since 2015.
According to the latest Reserve Bank figures, banks approved just 1166 mortgages for first home buyers in January, the lowest number in any month of the year since January 2015 (apart from April 2020 when housing market activity came to a standstill due to the Covid lockdown).
And as mortgage interest rates have been steadily rising, the amount being borrowed by first home buyers has been steadily decreasing.
In January this year the average value of the loans approved to first home buyers was $548,885. That's down by $46,513 (-7.8%) from its May 2022 peak of $595,398.
However almost a third of those loans approved in January this year were low equity loans to first first home buyers with less than a 20% deposit.
In January this year, 370 low equity mortgages were approved to first home buyers.
Although that is a low number, it made up 31.7% of all the mortgage approved to first home buyers in January.
That was the first time the low equity loans to first home buyers have gone above 30% of the total since November 2021, when house prices also hit their cyclical peak.
While rising interest rates have reduced the number of first home buyers getting into their own homes, they are also affecting the amount they are paying for them.
Although higher interest costs mean fewer aspiring first home buyers are getting into a home of their own, they are proving to be a more resilient part of the market than either investors or existing owner-occupiers.
However the low overall number of mortgages being approved to aspiring first home buyers suggests that home ownership likely remains an impossible dream for many.
There's some real goodies on Neighbourly Market in our FREE section, and we want to see even more!
If you've got some things getting dusty in the garage that could use a new home, list them on Neighbourly as free in the next 48 hours and you'll go in to win one of 5 x $50 … View moreThere's some real goodies on Neighbourly Market in our FREE section, and we want to see even more!
If you've got some things getting dusty in the garage that could use a new home, list them on Neighbourly as free in the next 48 hours and you'll go in to win one of 5 x $50 Prezzy® cards!
PS: Hedgehog now resting in cat bed and eating cat food. Help, as in long-term home, would be appreciated.
There is an injured hedgehog at Larsen Court in Roslyn. Doesn't want to move but no visible injuries. The veterinary clinic on duty is the one at 20 Manchester Street, Feilding. I have … View morePS: Hedgehog now resting in cat bed and eating cat food. Help, as in long-term home, would be appreciated.
There is an injured hedgehog at Larsen Court in Roslyn. Doesn't want to move but no visible injuries. The veterinary clinic on duty is the one at 20 Manchester Street, Feilding. I have no means of transport and they do not pick up but will see this animal if it is delivered to them. Any help or advice would be appreciated.
Thank you.
Telephone: 021-670155
Masport Sprint 375 series 18 lawnmower, works well, and cut lawns only yesterday. May need maintenance such as sharpening. Must go by Thursday morning.
New Zealand's small businesses have had another tough few weeks. We're calling on you, wherever you are across the country, to recognise a local business making a difference in your community.
We all love a cheeky grin and a wave from our local grocer, or a toot from the delivery … View moreNew Zealand's small businesses have had another tough few weeks. We're calling on you, wherever you are across the country, to recognise a local business making a difference in your community.
We all love a cheeky grin and a wave from our local grocer, or a toot from the delivery driver, or a coffee order that’s ready before we arrive. These are the business owners who remind us we're home.
Give your favourite local business owner the recognition they deserve by nominating them in the 2023 Prospa Local Business Hero awards.
Meet a family with four boys (almost) that's up for adventure - and they don't mind roughing it in the process.
💎💥 Open Home Tomorrow! 💥💎
2 Carey Street, Longburn
12.45pm- 1.15pm
First Home Treasure
4 Bed 🛏 | 1 Bath 🛁 | Single Garage 🚗
Enquiries over $539,000
Find out the value of your home 👉 www.sherynprince.net...
💎💥 Open Home Tomorrow! 💥💎
305 Karere Road, Longburn
12.00pm - 12.30pm
Welcome to La Finca
4 Bed 🛏 | 2 Bath 🛁 | Double Carport 🚗
Enquiries over $579,000
Find out the value of your home 👉 www.sherynprince.net...
He iwi tahi tatou. Together we are one nation, united by Te Whare Rūnanga, standing tall next to the Treaty House and built by the hands of my whānau for not only Māori and Pākehā, but all New Zealanders. I invite you to come and share in their story.”
Pita Tipene is the Chair of the … View moreHe iwi tahi tatou. Together we are one nation, united by Te Whare Rūnanga, standing tall next to the Treaty House and built by the hands of my whānau for not only Māori and Pākehā, but all New Zealanders. I invite you to come and share in their story.”
Pita Tipene is the Chair of the Waitangi National Trust. He, and all of those all of those at the Waitangi Treaty Grounds, invite you to come and feel the stories that shaped Aotearoa.
Fisher & Paykel agitator for top loaded washing machine. Very good condition these are expensive to buy new. No more clothes catching on broken fins.
Thujopsis dolabrata nana shrubs have 4. These are new from a nursery but now are not needed. Ht 1m x 1.5m, price is for the 4 but will sell separately at $15 each.
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