First-time buyers account for 29.5% of property purchases

A recent report indicates that first-time home buyers are making significant strides in the property market. They accounted for 29.5 percent of all property purchases in the third quarter of the year.

This noteworthy figure highlights the ongoing demand among new entrants in the housing market. First-time buyers continue to navigate various challenges, including rising prices and interest rates. The report suggests that these buyers are adapting to the current economic landscape, showing resilience and determination in their property pursuits.

As the market evolves, many first-time buyers are capitalising on available government assistance and financial support. These resources aim to make home ownership more accessible for those looking to take that important first step onto the property ladder.

Originally reported by RNZ New Zealand Headlines.