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.

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