PHOTO: FHBs held their ground too, as they continue to tap KiwiSaver for at least part of their deposit and/or compromise on the property itself (either location or type), hence allowing access to cheaper segments.
Multiple property owners with a mortgage accounted for 25% of property purchases in April, continuing their gradual return from a lull in late 2017 and early 2018. Given timing issues, this cannot have been a bounce-back from capital gains tax-related uncertainty; rather a sign that investors still have faith in the prospects for the property market. First home buyers are also holding their ground in terms of market share, especially in the main centres.
CoreLogic Senior Property Economist Kelvin Davidson writes:
CoreLogic’s Buyer Classification figures for April showed a strong return to the market by mortgaged multiple property owners (MPOs) – in other words, investors – with first home buyers (FHBs) also managing to hold their ground last month.
READ MORE VIA CORELOGIC