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First-Time Buyers Lead Housing Shift | Auckland News
First-home buyers are dominating the housing market, accounting for nearly 29% of all purchases in June — close to a record — while investors and relocating homeowners pull back. Investor share has dropped for two straight quarters to 22.5%, and relocating homeowners hit their lowest level since the 2009 financial crisis. Builders are absorbing rising construction costs — up 1.1% last quarter and 3.5% year-over-year — since new home prices aren’t soaring, making it harder to pass on those costs. Meanwhile, the broader economy remains sluggish: the services index barely nudged above 50, and…
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