The average age is now around 36
Across the country, first-home buyers are now close to 36 years old on average when they buy. Back in 2019 that figure was nearer 34.
Two years may not sound like much, but it reflects how long it now takes many people to save, build their income and feel ready to commit.
Source: Cotality–Westpac NZ First Home Buyer Report (May 2025); NZ Herald coverage of the report
How the main cities compare
The age varies by city. Buyers in Auckland average around 37, Wellington around 36 and Christchurch around 35. In each city that is roughly two to three years older than in 2019.
Higher prices in the larger centres generally mean a longer run-up to buying, which helps explain why Auckland sits at the top.
Source: Cotality–Westpac NZ First Home Buyer Report (May 2025); Cotality: First home buyer activity strong, but entering market later
First-home buyers are a bigger part of the market
Even though they are older, first-home buyers are active. Between January and April 2025 they made up nearly a quarter of all property purchases in New Zealand.
That is noticeably higher than the long-term average, which has sat at around 21 to 22%.
Source: Cotality–Westpac NZ First Home Buyer Report (May 2025)
What they pay, and what they buy
The median price paid by first-home buyers has held at about $700,000, the same as the two years before and a little below the 2022 figure.
More than three in four first-home purchases in 2025 so far have been standalone houses — the highest share since 2020. Rather than settling for an apartment or townhouse, many buyers are going straight to a house.
Source: Cotality–Westpac NZ First Home Buyer Report (May 2025); Cotality: First home buyer activity strong, but entering market later
Life stage shapes the decision
The report's commentary links the later buying age partly to lifestyle choices, such as travelling, building a career or starting a family, alongside the ongoing challenge of affordability.
Buying later can mean buying with a family already in mind, which naturally affects the size of home, the type of property and the area people look in. It can also mean buying further into a career, with a higher income and a larger deposit.
Source: Cotality: First home buyer activity strong, but entering market later; NZ Herald coverage of the report
Lower mortgage rates have helped
Mortgage rates fell substantially over the year before the report. Its authors note that lower borrowing costs have made home ownership more reachable for many New Zealanders.
Rates move over time, so it is worth checking what applies now rather than relying on any past figure.
Source: Cotality–Westpac NZ First Home Buyer Report (May 2025); Westpac NZ: Good timing for first home buyers
How buyers build a deposit
Many first-home buyers use a KiwiSaver first-home withdrawal towards their deposit, provided they meet the scheme's criteria.
Some also look at low-deposit options. For example, the Kāinga Ora First Home Loan, offered through participating lenders, lets eligible buyers purchase with a smaller deposit. Criteria and settings change over time, so check the current rules directly.
Source: Kāinga Ora: KiwiSaver first-home withdrawal; Kāinga Ora: First Home Loan
Common questions
Why is the average age rising?
According to the report's commentary, it is a mix of lifestyle choices — travel, career building and starting a family — and affordability. Even with prices below their 2022 peak, saving a deposit still takes time, especially in bigger cities.
We both work — how much can we borrow?
It depends on both incomes, your spending, any debts or card limits, dependants and your deposit. The free borrowing check on this site (Start the borrowing check, above) shows your indicative borrowing power in a few minutes. It is an estimate only, not pre-approval.