Tony Alexander: Independent Economist on the surge of first-home buyers as prices come down

A record surge of first-home buyers hits the market as prices come down. 

First-home buyers now account for 27% of the market share according to new data from CoreLogic. 

The Wellington region has the strongest market share, with one third of the market taken up by first home buyers. 

Independent economist Tony Alexander told Mike Hosking that conditions have been in their favour. 

He says average house prices fell about 18% from late 2021 to earlier on this year. 

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