Investors may sit back and wait for further cuts to the Official Cash Rate as first home buyers surge into the housing market. 

The Cotality Monthly Housing Chart shows first home buyers account for 27% of market activity in July – the highest proportion in 20 years. 

The Reserve Bank this week cut the OCR another 25-basis points to 3%. 

Cotality NZ Chief Property Economist Kelvin Davidson told Mike Hosking first home buyers are taking advantage of a quiet market as others hold off. 

He believes a reason people are waiting is job uncertainty and the labour market. 

LISTEN ABOVE 

Investors may sit back and wait for further cuts to the Official Cash Rate as first home buyers surge into the housing market.&nbsp;
The Cotality Monthly Housing Chart shows first home buyers account for 27% of market activity in July – the highest proportion in 20 years.&nbsp;
The Reserve Bank this week cut the OCR another 25-basis points to 3%.&nbsp;
Cotality NZ Chief Property Economist Kelvin Davidson told Mike Hosking first home buyers are taking advantage of a quiet market as others hold off.&nbsp;
He believes a reason people are waiting is job uncertainty and the labour market.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Kelvin Davidson: Cotality NZ Chief Property Economist on first home buyers entering the property market

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/45c992cd-0590-46be-a991-b340015ee3bb/transcript