First home buyers in New Zealand represented 27.5% of property purchases across the country in the first quarter, slightly lower than the 28.2% record high in the fourth quarter of 2025, according to a Cotality-Westpac report published Friday.
First home buyers are purchasing more in a market that is busier overall: over the last 12 months, they bought some 24,800 properties, the biggest annual total since the third quarter of 2021, according to the report.
"This strength for [first home buyers] is being seen right across the country, with market shares running above their own long-term averages since 2005," the report said, noting that first-time buyers accounted for 37% of first-quarter activity in the broader Wellington area, roughly 8 percentage points higher than its average.
Activity for first home buyers is supported by access to low-deposit finance, with recent central bank data showing that more than half of their loans are offered at less than 20% deposit.
"Looking ahead, although getting onto the property ladder remains challenging, conditions should stay relatively favorable for first home buyers," the report said.