PHOTO: DOMINICO ZAPATA/STUFF Megan Hunt moved back from London to live in Te Kuiti.
As New Zealand’s real estate market shows no sign of slowing, people left off the property ladder are finding it harder than ever to stump up their first deposit.
With a national median house price of $615,000, according to the Real Estate Institute, a first-home buyer would need to lay down more than $123,000 to purchase an average home.
People from all walks of life struggle to buy their first home in an increasingly expensive market.
Buyers are making concessions, moving further away, or going for smaller houses to get a first foot on the ladder.
Stuff spoke to three New Zealanders about their journey to home ownership; a recent migrant, a nurse buying on her own, and a returnee from the UK:
The migrant
In 2013, Krupa Karey moved from India to New Zealand to study business management. After staying in the country on a resident visa, the 31-year-old rented for several years in Auckland’s New Windsor suburb, working in Avondale as a continuous improvement coach.
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