## Market Snapshot: The Q1 Numbers 
<div style="border: 2px solid black; padding: 20px; margin-bottom: 40px; width: fit-content;">
 <ul style="margin: 0; padding-left: 20px;">
 <li>$720,000 Median Price: That’s the median price FHBs are paying. It’s a slight tick up, but still below the 2022 peaks.</li>
 <li>77% Standalone Homes: Most FHBs are successfully avoiding tiny apartments and securing backyards.</li>
 <li>50%+ Low-Deposit Loans: Over half of all buyers are getting keys with less than a 20% deposit.</li>
 <li>$820 Monthly Savings: Average repayments (outside Auckland) have dropped significantly since 2024.</li>
 <li>35 Years Old: The average FHB age has dropped from 35, as younger Kiwis find their way back to the market.</li>
 <li>37% Wellington Share: The capital is currently the busiest hub for first-time buyers in the country.</li>
 </ul>
</div>


While headlines often focus on the tough road ahead, the ground reality for New Zealand’s first home buyers (FHBs) tells a different story.

According to the recently released [Cotality-Westpac Q1 2026 First Home Buyer Report](https://www.linkedin.com/posts/westpac-new-zealand-limited_cotality-westpac-first-home-buyer-report-activity-7458272727464865792-yUP4/), this demographic is currently the most resilient and active force in the real estate market. 

### 1.	FHBs Leading the Charge
The data shows that first home buyers accounted for **27.5% of all residential property sales** across New Zealand this past quarter. 

This level of dominance suggests that despite broader economic headwinds, those looking to enter the market are finding pathways that didn't exist during the price peaks of previous years. 

### 2.	The Return of the Standalone Home
A few years ago, the common narrative was that first home buyers were being priced into high-density apartments. 

However, current property data insights confirm that **77% of FHBs in Q1 2026 purchased standalone houses.**

The lack of intense competition from multi-property investors has allowed first-timers to secure forever homes with backyards rather than just 'stepping stone' units. 

### 3.	The Mortgage Repayment Shift
Affordability is improving. 

The report indicates that outside of the Auckland region, the average monthly mortgage repayment has dropped by approximately **$820 lower compared to in 2024.**

This shift is attributed to a stabilization in median prices, currently around $720,000 for FHBs, combined with more competitive bank margins. 

**4.	Demolishing the 20% Deposit Myth**
Many prospective buyers stall their search because they believe a 20% deposit is a mandatory gatekeeper. 

Recent figures refutes this: over half of all successful FHB loans in the last quarter were processed with an LVR (Loan-to-Value Ratio) of over 80%. **The average LVR is now hovering at 81%,** proving that low-deposit lending is a standard path for many Kiwis. 

## Navigating the Remainder of 2026
With Westpac economists forecasting potential shifts in the Official Cash Rate (OCR) toward the end of the year, the current buying window is characterized by high stock levels and motivated sellers. 

#### •	Focus on Loan Structure
In a fluctuating rate environment, split-fixing your mortgage across different terms is more important than chasing a single low rate. 

#### •	Leverage Market Choice
With more standalone houses on the market, don't be afraid to negotiate on properties that have been listed for more than 4 weeks. 

#### •	Check Your Borrowing Power
Don't guess your numbers. Use our [useful calculators](https://tella.co.nz/home-loans-mortgages/calculators) to see how your deposit level affects your weekly repayments. 

Don't let market noise dictate your future. Get a clear picture of your [options](https://tella.co.nz/) today.

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_**New to the first-home buying journey?**
Explore our [step-by-step guides](https://tella.co.nz/first-home) to help clear the confusion and find your path forward in the right direction._

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Key Insights from the Cotality-Westpac Q1 2026 Report

_**Please Note:** This video was originally published on 2nd September 2022. While the information presented here may still be valuable, some aspects may be outdated._

 

🏡 Attention NZ Resident Visa Holders: Buying Your Dream Home is Possible! 💫

Have you been told that purchasing a home on a NZ resident visa isn't possible? We're here to dispel that myth – because you CAN make your homeownership dreams a reality!

Discover how to navigate the process and secure the house you've always wanted with our simple guide.

For personalised guidance on your home loan journey, reach out to us at hello@tella.co.nz, and our friendly team will be happy to assist you every step of the way. 📧🔑

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How to buy your dream home on a New Zealand Residence Visa

_**Please Note:** This video was originally published on 7th June 2022. While the information presented here may still be valuable, some aspects may be outdated._

 

Before buying your first home you'll need to save for a deposit. This Tella video guide covers what you need to know before you start saving. What can you afford to spend on a home and how much the bank will lend? It covers using KiwiSaver, Kainga Ora, and loans or gifts from parents. For the first home, we always want to make our deposit go far so it's important we cover off low deposit (low equity) loans and what this means in terms of cost. Take 5 minutes to get yourself up to speed before using some of the great calculators and guides on the Tella website.

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Saving for a home loan deposit