House values hold where first home buyers active

QV operations manager James Wilson says most areas that have experienced positive value growth or held relatively steady over the past quarter have had average values of well below $1 million – in other words, “first home buyer territory”.

This backs up claims from mortgage adviser firms that there have been more inquiries from first home buyers over the past six weeks.

Tauranga QV property consultant Derek Turnwald says there are early signs of a shift in market sentiment.

“First-home buyers and ‘hand sitters’ who have been in a position to buy or sell but have patiently waited for stability in the market are starting to show some interest now.