Movement in housing affordability could spell good news for first home buyers. 

Cotality NZ's Housing Affordability report for Quarter 4 2025 shows the national value-to-income ratio fell to 7.2. 

This is the lowest level since a brief period in 2019 and before that 2016

The Property Investors Federation's Matt Ball told Ryan Bridge it is still higher than the long-term national average of 6.8. 

He says the decrease is great for young people, but it would be better for it to come down even more. 

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