Immigrants now make up about 12.5% of NZ home buyers and their market share is rising
In the first quarter of this year, 12.5% of the homes sold in New Zealand were purchased by people with residence visas, and this number has been steadily increasing for the last four years.
Statistics NZ collects data on residential property transfers, but some transfers will not involve a sale where money changes hands, such as when a property is inherited.
My thoughts:
Strong net migration numbers are coming back into New Zealand post covid days. These are people who will need to buy or rent a home while settling here. Healthy demand coming this group of buyers will continue to provide momentum to the property cycle
