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Rules drive buyers away

Wednesday 2nd of April 2014

Property consultant Matthew Gilligan said there had been a "mini crash" in South Auckland, and other cheaper areas would also be affected.

CoreLogic statistics show first-home buyers have dropped out of many parts of Auckland where they used to dominate.

In Massey, West Auckland, the proportion of first-time buyers has dropped from 39 per cent to 29 over the past few months, and Glendene from 33 per cent to 15.

In South Auckland, Mangere's proportion of first-time buyers dropped from 35 per cent to 14.

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