Lower prices and mortgage rates see first-home buyers dominate market

First-home buyers are still dominating the market. 

The latest Cotality Westpac First Home Buyer Report finds they made up almost 30% of property purchases in the third quarter of this year. 

It shows lower house prices and mortgage rates are helping, with many tapping into KiwiSaver. 

Cotality Chief Property Economist Kelvin Davidson told Ryan Bridge it varies, but on average homeowners are spending hundreds of dollars less on their mortgages than a few years ago. 

He says the huge savings there and the lower house prices are a big plus for first time buyers. 

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