First home buyers are upping their presence in the property market

The latest CoreLogic First Home Buyers Report shows they made up 26-percent of purchases in the first quarter of 2024, above the long-term average of 21-percent.

Chief Property Economist Kelvin Davidson says lower prices, opportunities to tap into KiwiSaver funds, and reduced competition from other buyer groups, are all contributing factors.

He says they're getting more bang for their buck as a higher share of first home buyer purchases are for houses, as opposed to flats or apartments.