The average first home buyer is getting older.
A Cotality-Westpac report has found the average age of first home buyers has increased to 36 nationwide.
It's 37 in Auckland, 36 in Wellington, and 35 in Christchurch – all figures are two or three years higher than average in 2019.
Cotality Chief Property Economist Kelvin Davidson told Mike Hosking there’s a range of reasons behind it.
He says the affordability measures aren’t much different than they were in 2019, so while affordability is an influence, lifestyle and career choices are definitely having an impact.
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The Mike Hosking Breakfast