Your first time?

The housing boom has made many homeowners happy. The downside is the increasing difficulty that New Zealanders face when buying their first home. As investors and new home buyers compete, properties once considered modest in central Auckland are now out of reach for many people. It’s even difficult to buy a unit or an apartment for under $100,000.

But first-home buyers shouldn’t despair. There are still places not too far from Auckland’s CBD where you can find something for around $200,000. Not for long though, say real estate agents, who advise first-home buyers who may be holding off until the end of the boom to think again. They say prices are moving upwards fast, and it’s unlikely that they’ll ever be cheaper than now.

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