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Saving up to buy your first home? It could take you nine years to get a deposit together

Lower house prices and job opportunities are attracting more property buyers to the King Country.
Buying a first home has always been hard, but these days the deposit is a huge hurdle for aspiring homeowners who need many years to save one – while prices keep climbing.
Recent CoreLogic data shows property values increased sharply in the first three months of this year, with the national average up by 7.2 per cent since December to $845,491 in March.
Nationwide values then increased by a further 3.1 per cent over April, which took the annual rate of growth to 18.4 per cent from 16.2 per cent in March and left the average national value at $871,375. ....

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Garba event brings smiles to the faces of many in community - www.indianweekender.co.nz

Garba event brings smiles to the faces of many in community
Thursday, May 20, 2021
Sandeep Singh
A Garba event held much early in Auckland was able to achieve what its organisers had set out to achieve – bringing smiles to the faces of the members of the community – in an otherwise gloomy year because of a rampant global pandemic overseas.
Soni Samaj New Zealand had come up with an innovative idea of rejuvenating the spirits of the members of the community, who were jaded with the consistent gloomy news of a raging Covid pandemic all around the world - hosting a Garba event early in Auckland. ....

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Govt changes likely to drive investors to new properties

Loan-to-value ratios (LVRs) already allow borrowers to get loans on new builds with a smaller deposit than they would need for an existing property.
For a new build, first-home buyers can usually have a deposit of 10 per cent while property investors are currently required to have a deposit of 20 per cent.
In contrast, first-home buyers usually need a deposit of 20 per cent to buy an existing house and investors effectively need a 40 per cent deposit already, although that’s not official until May.
Opposition leader Judith Collins says Prime Minister Jacinda Ardern has broken a promise by introducing a capital gains tax after the Labour Government announced a series of housing policy changes. ....

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We're young and we bought a house: here's how we did it

RNZ
The Government will announce initiatives designed to cool the property market and help first home buyers. (First published February 2, 2021)
It’s no mean feat to buy your first home in the current super-hot market, but it can be done. Ryan and Sinead Fisher are proof – and they managed it without turning to the “bank of mum and dad”.
When the Fishers, who were in their early 20s at the time, first decided they wanted to buy their own home by the time they were 30, they realised they would have to make a few sacrifices to achieve that dream.
Over the next few years, they did just that in order to, first, save the deposit they needed and then find and secure a house within their price range. ....

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