Podcast Appearances
So this is a great news story.
It is more of the same and it's been record highs for a good couple of years now.
So just more strength from first-time buyers.
Don't get complacent about it because actually this is what we want to see.
You want to see people getting into the market if that's what they choose.
You want to see the ability to get into the market if they want to.
Yeah, we're definitely seeing it at the moment.
So first time buyers, I think in December alone, it was 28.8% of activity, not quite a record for a single month, but pretty close.
And across the quarter as a whole, 28.4.
So that was a new record, having beaten the previous record, which was only set in Q3.
So yeah, first home buyers are still really active.
I mean, house prices are down, that helps, interest rates are down.
With interest rates down, I guess servicing debt will in a lot of cases be cheaper than paying rent, even though rents themselves
tailing off a little bit um you've got kiwi saver you've got the lvr speed limit so that that's a biggie i mean um reading article this morning just just emphasizing the fact that you don't need 20 you know there's a big allowance there at the banks for people getting in with 10 or 15 so you don't necessarily have to wait for that 20 mark before you can think about you know you can think about your deposit being big enough and accessing the market you can get in with less
and that's that's been a big factor for first-time buyers for quite a long time something like half of of all first-time buyer loans are done at less than 20 equity so um so yeah all those things helping first-time buyers um on the flip side there's you know the when when we look at market share always has to add 100 so if someone's strong someone else's is a bit below normal and i guess the group that's below normal at the moment is movers or relocating owner occupiers they're running at sort of 24 25 percent
um you know there's so there's always people moving around but typically that that mover number might be higher to 30 or closer to 30 so um yeah just a little bit of caution out there still maybe some job insecurity you know people just thinking you know what i'll stay where i am rather than rather than doing that trade up
So that's kind of the flip side of first home buyers.
And then, yeah, mortgage multiple property owners, you know, you're sort of including your cliched mum and dad investors, probably running somewhere in the middle, you know, not too high, not too low, sort of around about normal, which is sort of 24, 25% for them.
So, yeah, first home buyer strength, other owner occupiers, maybe a bit softer than normal and mortgaged investors sort of sitting somewhere in the middle.
So, and that's something we've seen for