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Housing Market – Cotality First home buyer activity strong, but entering market later

Source: Cotality

Cotality-Westpac NZ First Home Buyer Report draws on Cotality’s extensive housing market data, as well as Westpac’s information about borrowers, to offer fresh insight into the purchasing behaviours, property preferences and financial profiles of New Zealand’s first-time home buyers (FHBs).
The report shows the number of first home buyers has picked up in recent years, accounting for nearly 25% of all property purchases across the country between January and April 2025 — well above the long-term average of 21–22%.
It also found that the average age of first home buyers in New Zealand is rising, with new data showing Auckland buyers now average 37 years old, 36 in Wellington, and 35 in Christchurch — each around two to three years older than in 2019.
“This shift partly reflects conscious lifestyle choices — such as travelling, building careers, or starting families — but housing affordability remains a key factor,” said Westpac NZ Senior Economist Satish Ranchhod.
“Even with prices well below their 2022 peak, getting onto the property ladder still takes time, especially in larger centres like Auckland where prices tend to be higher.”
Despite this later entry into the market, FHBs are currently getting more bang for their buck.

More than 75% of FHB purchases so far in 2025 have been standalone houses — the highest share since 2020 — and the median price paid has held steady at $700,000, unchanged from the past two years and lower than 2022’s $719,000.

“First home buyers may be older, but they’re entering the market with a clear plan and strong decision-making,” said Cotality Chief Property Economist Kelvin Davidson.

“They’re capitalising on their ability to tap into KiwiSaver, abundant listings, modest price growth and accessible finance to secure better homes in many cases. Making full use of the low-deposit lending allowances at the banks is another support for FHBs.”

“The big drop in interest rates over the past year has been a key factor that’s helped more New Zealanders into their first home,” said Ranchhod.

“Fixed mortgage interest rates are now around 170 to 200 bps lower than this time last year. For those buying an averaged priced first home, those lower interest rates could cut their monthly mortgage costs by around $800.”

Townhouses have made up 18% of FHB purchases to date in 2025, a higher share than among all buyers (15%), while only 2% of FHBs bought apartments and 3% opted for lifestyle blocks — compared to 6% in each category across the wider market.

The data also confirms that many FHBs are not entering at the bottom rung: while the FHB median price is lower than the overall buyer median of $780,000, it is significantly higher than the lower quartile of $585,000.
 
Spotlight on the main centres

Looking at New Zealand’s major cities, FHB activity has been elevated across the board.

The wider Wellington area leads the way, with FHBs accounting for 36% of purchases so far in 2025 — around 7 percentage points above the area’s long-term average. 
Hamilton follows closely at 30%, with Dunedin at 28%, Auckland 27%, and Christchurch 26%. Tauranga, while slightly lower at 21%, still sits about 4 points above its historical norm.

Standalone houses continue to be the dominant purchase type in most main centres.

In Dunedin, 90% of FHBs have bought standalone homes this year, with Hamilton and Tauranga both close behind at 89%. However, the share is comparatively lower in Auckland (64% vs an average of 67%), Wellington (67% vs 73%), and Christchurch (66% vs 77%) — likely reflecting both greater availability and affordability of smaller dwellings, including townhouses and apartments.

Price data reinforces the trend that first home buyers are typically entering the market above the lower rungs but below the peak.

In Auckland, the median FHB price so far in 2025 is $903,000 — $127,000 below the all-buyer median, but $114,000 above the lower quartile. FHB median prices are $767,000 in Tauranga, $740,000 in Wellington, $705,000 in Hamilton, and lower again in Christchurch and Dunedin.
 
Looking ahead

Cotality projects that national property sales will increase from 82,000 in 2024 to around 92,000 in 2025, with modest growth in values over the calendar year – perhaps 5% or a bit above. Although FHBs may see their market share edge down later in the year as other buyer groups re-enter the market, the total number of first home purchases is expected to rise.

“Market conditions continue to favour first home buyers — from abundant listings and pricing power, to accessible finance and the ability to use KiwiSaver towards a deposit,” Davidson said.

“While challenges remain, the opportunity to buy better for less is firmly within reach. It’s true that paying rent is generally cheaper than a mortgage, and it’s never easy to get that first home. But the security of tenure provided by owner-occupier clearly remains a strong motivation for first home buyers.”
 
About Cotality

We accelerate data, insights and workflows across the property ecosystem to enable industry professionals to surpass their ambitions and impact society. With billions of data signals across the life cycle of a property, we unearth hidden risks and transformative opportunities for agents, lenders, insurers, governments and innovators.
 
About Westpac NZ

Westpac NZ is one of the country’s biggest banks. As a large New Zealand business and employer, we touch the lives of around 1.5 million customers, 5,000 employees and communities nationwide. Getting more customers into their first homes sooner is a priority for us.
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Local Politics – Te Whatanui Leka Skipwith Announces Candidacy for Māori Ward in Rotorua Local Body Elections Rotorua, Aotearoa

Source: Te Whatanui Leka Skipwith

Te Whatanui Leka Skipwith, a dedicated kaitiaki and staunch advocate for the protection of Rotokākahi, yesterday announced his candidacy for the Māori ward in the upcoming Rotorua local body elections.

Driven by the unwavering support, guidance, and leadership of his whānau and hapū, Skipwith is stepping forward to bring about systemic change from within – challenging the very structures that have historically enabled poor planning, flawed decision-making, and the exclusion of mana whenua voices.

“The ongoing fight to protect Rotokākahi has shown me how broken the system can be when mana whenua are not properly consulted,” said Skipwith. “This isn’t just about the environment – it’s about justice, equity, and honouring Te Tiriti o Waitangi in real, practical ways.”

Skipwith sees his candidacy not only as a continuation of the fight to protect Rotokākahi, but as a new avenue to ensure that this never happens again. “This is another step in safeguarding the mauri of Rotokākahi – and in time, we must also find a way forward to remove the pipe entirely. That is part of the vision – restoration, not just protection.”

A key focus of his campaign will be building a genuine, enduring partnership between council and all iwi – not just select individuals or groups. This vision includes a Whakamana approach: iwi-led and council-supported solutions that address some of Rotorua’s most pressing social challenges.

“If we whakamana iwi, then we can also whakamana our people – especially our homeless whānau who deserve better pathways to stable housing, support, and dignity,” he added.

Skipwith also emphasised the importance of creating opportunities for rangatahi, including access to employment, education, and training. “Our rangatahi are the future of our whānau and hapū. Supporting them into mahi, further study or upskilling is how we strengthen our communities from the roots up.”

With deep connections to Rotorua and a fierce commitment to protecting whenua, taonga, and people, Te Whatanui Leka Skipwith’s campaign is a call for action, accountability, and authentic partnership.

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EMA Statement – RMA Announcements on Right Track

Source: EMA

Today’s Resource Management Act (RMA) changes announced by Ministers Bishop, McClay and Watts, are a significant step forward in making the building and connection of networks and critical infrastructure much easier, says the Employers and Manufacturers Association (EMA).
“Creating firm national direction through National Policy Statements and National Environmental Standards, which consenting councils then have to follow, simplifies the process for construction, maintenance and renewal of electricity and telecommunications networks,” says EMA Head of Advocacy, Alan McDonald.
“In addition, making the consenting of new quarries and expansion of existing sources of aggregate easier is also critical to any plans to build new infrastructure. From building a simple family home to multi-billion dollar construction projects, you’ve got to have aggregate.
“The existing rules are far too restrictive and difficult to navigate.”
The steps announced today are part of the government's RMA 2 changes, and are now going out for consultation. They will also feature in the RMA 3 legislation expected to be passed next year. While quite technical, the changes go a long way to easing consenting in those sectors, without easing environmental protections.
“Councils have to give effect to these national directives, and that will effectively end the multiple differing interpretations and standards that councils, often within the same region, apply to current RMA legislation,” says McDonald. 
“Many of our members have to navigate different rules from different councils just to do the same thing.”
Proposed changes to freshwater regulations were also announced, while housing policy changes are also on the way.
“I’m sure our farmers will welcome many of those changes, as will the quarrying industry which has run afoul of very strict changes to wetland definitions that effectively stopped quarrying on some existing sites,” says McDonald. 
“We’re aware of instances in the Auckland region where water running out of native bush areas, in theory, has to be cleaner when it leaves the farm than when it entered the property.”  
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Tertiary Education – Te Pūkenga continues strong growth in international education amidst ongoing sector change

Source: Te Pukenga

Thursday 29 May 2025 – Te Pūkenga continues strong growth in international education amidst ongoing sector change
Te Pūkenga – New Zealand Institute of Skills and Technology continues its growth trajectory in international student numbers, with enrolments, revenue, and international partnerships, all increasing strongly.
Te Pūkenga Chief Executive Gus Gilmore acknowledged the hard work of staff in achieving the results which include increases in international student numbers from 2,861 EFTS at the end of 2022, when polytechnics transitioned into Te Pūkenga, to 6,873 EFTS at year end 2024. At the same time, international revenue has increased nearly 60% from 2023 to 2025.
“Despite ongoing changes and uncertainty for our staff including almost 18 months of working towards disestablishment of Te Pūkenga and working to stand-up new entities, our international student numbers increased almost 30% between 2023 and 2024. This year so far, we are growing at 10.5% compared to last year.”
While international revenue was $187 million pre-Covid, it dropped to $47.5m million in 2022 post-pandemic. Te Pūkenga then accelerated the big task of building back from pandemic disruptions and border closures with revenue rebounding to $136 million in 2024. The 2025 forecast is $159 million.
“To be within less than 15% striking distance of pre-Covid numbers given the massive change the sector has been going through is a testament to the hard work of our teams, the quality of our programmes, growing global recognition of the importance of applied learning, and the strength of our institutes of technology and polytechnic brands offshore.”
International student growth is occurring throughout the country, including in the regions. This includes MIT up 25% (82 EFTS), Unitec up 20% (176 EFTS), Wintec up 44% (213 EFTS), Toi Ohomai up 13% (60 EFTS), NMIT up 30% (60 EFTS), and Ara up 16% (57 EFTS).
“Our focus continues to be on the delivery of quality education for all our students while supporting our divisions to promote the New Zealand vocational education and training sector offshore. As part of this, we are working with government agencies and sector stakeholders on building a stronger New Zealand brand for applied learning globally, and addressing immigration challenges so we can reduce barriers for international students choosing New Zealand as their study destination of choice,” says Mr Gilmore.
In addition, Te Pūkenga continues to actively expand and secure new institutional arrangements with partners from across the globe, including with international governments. These partnerships are critical pipelines for ongoing growth in student enrolments as well as broader education cooperation and sector resilience.
“These arrangements lay the groundwork for sustained future growth through mutual academic collaboration, academic exchange and student mobility. Critically, they strengthen our standing and reputation as a vocational education and training partner and destination, contributing to the revitalisation of New Zealand’s international education sector and economy.”
The large majority of international students across Te Pūkenga divisions come from Asia with India (49%), Sri Lanka (11%), and China (10%) the top three markets. We are also working to diversify student market sources.
“International students make a significant contribution socially and culturally to our institutes, campuses and student body. The international connections and understanding they help build are invaluable for a small island nation dependent on international trade and investment.”
The contribution of international student revenue to financial viability is increasingly more important as institutes of technology and polytechnic divisions are stood up as independent entities from January 2026.
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NZ Currency – 10 cent coin with King Charles III image now in production – Reserve Bank

Source: Reserve Bank of New Zealand

29 May 2025 – The Reserve Bank of New Zealand – Te Pūtea Matua has quality checked and approved the 10 cent coin with the effigy of King Charles III, King of New Zealand (KCIII), for production and New Zealanders can expect to see it in their change around 2027.

Photos of the quality checking were released today giving people the first look at the actual coin.

“We received pre-production samples of the coin to check and approve before starting the full production run. We check the coins for quality, weight, size, security properties and that they match the design we ordered,” says Ian Woolford, Director of Money and Cash – Tari Moni Whai Take.

2024 is stamped on the coin which is the year RBNZ placed the order with the Royal Canadian Mint. New Zealand does not have a mint, so our coins are produced overseas.

The King's effigy was designed for the Royal Mint by illustrator and designer Dan Thorne to be used on all New Zealand's coins. The Royal Numismatic Society of New Zealand provided advice on the 10 cent coin before it went into production. The King faces to the left in keeping with the convention that the direction changes between sovereigns.

“The reverse (or tails) side of the 10 cent coin still features an image of a koruru – the carved face on the gable of a meeting house – designed by James Berry as a part of the 1967 decimal coin series,” says Mr Woolford.

“All existing circulating coins, and $20 banknotes, bearing images of Queen Elizabeth II continue to be legal tender. We order notes and coins infrequently and do not plan to destroy stock or withdraw them early from circulation as this would be wasteful and poor environmental practice.”

Minting the 20 cent, 50 cent, $1 and $2 coins with the KCIII image is likely to be around 2027. Coins then typically enter circulation around two years after production.

“Updating our currency with the new sovereign takes several years because we always hold sufficient stock to deal with demand spikes or supply issues. We make enough coins and banknotes just in case – not just in time,” says Mr Woolford.

“We will let everyone know when the KCIII coins are due to enter circulation as the time nears.”

Banks, retailers, consumers and anyone using or handling cash will not need to do anything differently when we introduce the coins bearing the image of the King. We will work with the cash industry to make sure there are no glitches with cash handling machines like self-service checkouts, vending and change machines accepting and issuing the new and old coins.
 

More information

King Charles III coin: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=65f32a7e75&e=f3c68946f8

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Local News – Porirua City Council to launch pilot Waste Minimisation Grant scheme

Source: Porirua City Council

A pilot scheme offering grants to Porirua projects that enable waste minimisation in the city was approved at a full Porirua City Council meeting this morning.
Starting in the 2025/26 financial year, part of the funds received by Porirua City Council from the Waste Levy Subsidy will be used to provide community grants to groups with projects that will encourage reuse, repurposing and recycling capacity in the city.
The scheme will initially run as a 12-month pilot to gauge the level of demand and the types of projects sought.
There will be two levels of funding available for projects. The first will be grants of up to $30,000 that will become available in a single application round.
The second will be grants of up to $2000 which can be applied for year round.
Establishing this grant is part of the enacting Porirua City’s 2023-29 Waste Management and Minimisation Plan.
Porirua City Councillor Geoff Hayward, who represents Porirua City on the Wellington Region Waste Management and Minimisation Joint Committee, says this scheme will empower communities in the city.
“It’s the kind of initiative that reflects the best of what local government can do. It’s backing communities to lead solutions using existing levers wisely.
“It will reduce pressure on rates and support our goal to reduce the amount of waste going to landfill.”
Waste minimisation initiatives could include new projects that reduce waste at the source and encourage movement towards a circular economy.
Projects that focus on reduction, redesign, reuse, repair and repurpose will also be considered.
“We want to see initiatives that create new opportunities and encourage community participation in waste minimisation,” says Councillor Hayward.
Porirua Mayor Anita Baker says this is a positive move for waste reduction in Porirua.
“This is another way that we can work towards making our communities more healthy and encourage more people to get involved in positive outcomes.”
The grant scheme will now be developed with more information to come once the details have been finalised.
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Environment and Politics – Luxon Government to favour dairy pollution at the expense of drinking water

Source: Greenpeace

Luxon’s Government is once again putting corporate profits ahead of people’s health by proposing freshwater policies that will drive more dairy pollution at the expense of safe drinking water and swimmable rivers.
The proposed changes to the National Policy Statement for Freshwater Management, announced today, include giving more favour to corporate uses of water like intensive dairy. This fundamentally undermines Te Mana O Te Wai, the framework that prioritises the health of freshwater ecosystems and the health of community drinking water ahead of corporate uses of water.
Greenpeace Aotearoa freshwater campaigner Will Appelbe says, “Safe drinking water requires healthy freshwater ecosystems, and that should always be the priority. But today’s decision will drive more water contamination, especially in rural communities.”
“Make no mistake, this will facilitate dairy expansion, and we know what that means for the country. More cows means more pollution from effluent and fertiliser, poisoning waterways with nitrate and nasty pathogens.”
“Just this year, several new dairy expansion consents have been approved in Canterbury, where many communities are facing a drinking water crisis as a result of nitrate contamination from intensive dairy.”
“The Government is meant to be protecting the health of communities, not lining the pockets of corporate polluters. We’ve already seen the influence the agriculture lobby has had over the rollback of freshwater protections last year, and this announcement today demonstrates how much of a hold lobbyists have over Luxon and his Cabinet.”
“But communities are ready to fight for clean drinking water and swimmable rivers, even if Luxon won’t. It's more important than ever that local governments – like Environment Canterbury, which has responsibility over the majority of New Zealand’s freshwater ecosystems – step up and take real action to protect lakes, rivers, and drinking water.”
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BusinessNZ – National direction in support of growth

Source: BusinessNZ

BusinessNZ welcomes the Government’s proposed consultation on national direction under the Resource Management Act, as a step towards a better planning system.
BusinessNZ Chief Executive Katherine Rich says the proposed updates in direction on infrastructure, renewable energy, housing, mining, and primary sector development, recognise New Zealand’s need both to grow the economy and protect the environment.
“This is the most comprehensive overhaul of national direction we’ve seen, and it reflects many of the changes BusinessNZ has advocated for. We’re encouraged by moves to simplify consenting for energy, housing and farming, and to replace overly complex freshwater rules that have frustrated producers without delivering better environmental outcomes,” Mrs Rich said.
BusinessNZ supports the intention of transitioning these changes into a new RMA framework based on clearer property rights and long-term certainty to encourage investment and growth.
“We look forward to engaging constructively during consultation to help ensure the final package delivers on its promise to reduce red tape, restore balance, and support economic recovery,” Katherine Rich said.
The BusinessNZ Network including BusinessNZ, EMA, Business Central, Business Canterbury and Business South, represents and provides services to thousands of businesses, small and large, throughout New Zealand.
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Federated Farmers welcomes freshwater regulations review

Source: Federated Farmers

Federated Farmers applauds the Government’s announcements today on a comprehensive review of freshwater regulations.
“We’re pleased to see all options are on the table and that consultation will be open until 27 July,” Federated Farmers freshwater spokesperson Colin Hurst says.
“The previous Government’s freshwater rules were completely unworkable for farmers. In some cases, even if you converted a whole catchment to native forest, you still wouldn’t have achieved the bottom lines.
“The current Government simply had to push pause on these rules – and now we’re seeing steps towards more sensible national direction to local authorities.”
Hurst says it’s particularly welcome that the Government wants a more balanced approach to Te Mana o Te Wai.
“That concept, as pursued by the previous Government, has been unworkable and highly problematic.
“It was unclear how councils should interpret and apply what was a vague concept of protecting the mana and mauri of water under Labour’s rules, and what that might mean for our farms and rural communities.”
Under Te Mana o te Wai, the health and wellbeing of water is put ahead of all other considerations, including human health, and social, cultural and economic wellbeing.
“That seems wildly imbalanced. The Government’s announcements today recognise such a strict hierarchy is flawed.”
The consultation document says: “Multiple objectives require councils to provide for multiple outcomes and can better reflect the interests of all water users.”
“Federated Farmers absolutely agrees with this. In fact, we believe it’s worth considering whether Te Mano o te Wai is a concept that should be scrapped altogether, which is one of the options now on the table,” Hurst says.
Another big question is whether it’s worth making these freshwater changes right now under the current Resource Management Act (RMA), or if this should wait until the Government has reformed the RMA, with the freshwater changes to follow.
“Federated Farmers will be reading through the detail of today’s announcement and going back to the Government with our position, on behalf of our members, in the next few weeks.” 
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Work and Education – Kiwi apprentice finds global opportunities through Plumbing apprenticeship

Source: Into Work

Hamilton apprentice Keegan Calkin has discovered that plumbing is more than just fixing pipes and drains—it's a global career with endless opportunities.

Now in his fourth year of a dual trade apprenticeship, Keegan has moved from his family business to international competitions and humanitarian projects, broadening his skills and perspectives in ways he never imagined.

The 20-year-old recently received an invitation to the International Water, Sanitation and Hygiene Foundation (IWSH) Plumbing Champions initiative in Frankfurt, Germany. “It was the right place, right time. I got an email asking if I wanted to go to Germany, and I thought, 'Absolutely, why not?'” Keegan said.

The initiative was not a competition but a platform for sharing and learning global plumbing practices. It brought together plumbers from around the world to exchange ideas and techniques. Keegan was particularly impressed by Germany's advanced technology and manufacturing capabilities. “Their technology is incredible. Everything is made there, and it's right at their fingertips. It made me realise how far behind New Zealand is in some areas,” he said.

Keegan's international experiences extend beyond Germany. He spent three weeks in Tonga, working on the construction of a Mormon temple. “We've built temples in Hamilton and Auckland, and our company runs the project in Tonga. It was a fantastic experience,” he said.

“I didn’t really expect I could work overseas especially just starting out in my apprenticeship but I’m keen to see where it goes.”

Keegan's journey into plumbing began as a family affair, following in the footsteps of his grandfather, father, and uncle. He now works for his father’s company, FB Hall & Co., one of the largest and most established plumbing firms in Hamilton with over a 100 year history, and a host business of ATT, part of the IntoWork Group.

His apprenticeship is a comprehensive 5-year course that includes plumbing, gas fitting, and drain laying. Despite being an apprentice, Keegan is given significant responsibility and independence. “ATT check in with me regularly to ensure I'm on top of my coursework, assessments, and assignments but I work for myself most of the time,” he said.

ATT Account Manager Kim Dunn highlighted the transformative impact of these international experiences. “Keegan wasn't overly excited at first, but once he got there, it was the best thing he ever did. It was an incredible experience that has broadened his horizons,” Kim said.

Keegan's exposure to global practices has inspired him to consider working overseas in the future.

Beyond his professional development, Keegan balances his apprenticeship with his passion for drum and bass music. “I play guitar, but I'm mainly a drum and bass DJ. I've been involved in the music scene for about a year,” he said.

Kim emphasised the importance of pursuing personal interests alongside professional growth. “It's crucial to remind our apprentices that the world is full of opportunities. We have a supportive team of 40 staff, and we encourage them to explore and grow both personally and professionally,” she said.

Keegan and his partner are planning a trip to Europe next year, and he hopes to reconnect with the international connections he made during his time in Frankfurt. “We're trying to save up for a trip to Europe next year. I'm excited to catch up with some of the guys I met in Germany,” he said.