According to the Cotality-Westpac NZ First Home Buyer Report, the average age of first-home buyers has risen to nearly 36 years old.
In Auckland, first-home buyers are now typically 37 years old, while the average age is 36 in Wellington and 35 in Christchurch. Across all three cities, buyers are now two to three years older on average compared to 2019.
For Westpac senior economist Satish Ranchhod, “This shift partly reflects conscious lifestyle choices – such as travelling, building careers, or starting families – but housing affordability remains a key factor.”
“Even with prices well below their 2022 peak, getting on to the property ladder still takes time, especially in larger centres like Auckland where prices tend to be higher.”
Ranchhod said when individuals delay entering the market, it often means they have fewer years of employment remaining to repay any loans they incur.
“But that’s balanced against the fact that, by waiting a bit longer, potentially they’re getting into the housing market when they’re further along in their careers, potentially their incomes are higher, and they may have a slightly higher deposit.”
Ranchhod noted that first-home buyers are now more likely to have children at the time of purchase than they were previously, which can have an impact on the “type, size and locations of homes they choose, as well as the time it takes to repay any borrowing.”
The report has also shown that in the first four months of 2025, first-home buyers have played a major role in the property market, making up almost 25% of all purchases.
Over 75% of first-home purchases this year have been standalone houses, marking the highest proportion since 2020. The median price paid has remained steady at $700,000, unchanged for the last two years and below the $719,000 recorded in 2022.