A lot of first home buyers are waiting for the right price.
A CoreLogic’s report for the quarter reveals the number of people buying their first home, fell by three and a half percent on the second half of last year.
CoreLogic NZ Chief Property Economist Kelvin Davidson says March saw a sharp fall, and the overall numbers are below what we normally see.
He says some people have pulled back, and how long they wait for a bargain, is up to them.
Davidson says market corrections take some time, so he expects things to be fairly quiet for the next 12 to 18 months.