First-home buyers 'radically scared away'
The survey found that a net 44% of agents were seeing fewer first-home buyers, up from 40% last month. “This is little changed from February’s net 40% result and while better than results close to -80% in November and December still tells us that FHBs have been radically scared away or shut out of the home ownership market by the new credit controls," BNZ chief economist Tony Alexander said.
A reading of 0% would indicate that agents were not seeing more or fewer first-home buyers.
Before the loan-to-value restrictions came in, a net 24% of agents were seeing more first-home buyers.
A net 15% of agents say they are seeing more investors, down from the net 26% before the controls were introduced.
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