Housing downturn sees record-high share of first-time buyers entering the market
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First-home buyers appear to be making the most of the ongoing housing downturn.
New Zealand's close to its longest downturn in prices in modern history – nearing five years.
Auckland house prices are 22% below their peak, while Wellington's down 28%.
Opes Partners economist Ed McKnight told Heather du Plessis-Allan it's playing in some buyers' favour.
He says we've got the highest share of homes being bought by first-home buyers since records began in 2005.
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