First-home buyers are claiming a bigger slice of the Nelson Tasman property market, with more people using the Kāinga Ora First Home Loan scheme as rising housing stock gives buyers greater choice.
There were 119 properties purchased through the scheme in the region in the year to June 2026, up 33.7% on the previous year and well above the region's 10-year annual average of 46, according to the latest Infometrics quarterly economic report.
Mike Pero mortgage adviser Scott Jackson says it is a good time for people to buy their first home.
“It’s a great time for first-home buyers. Banks are hungry to lend, there is lots of stock, it’s a buyer's market… and we are lucky in Nelson that our market has a good selection of first homes, in that $500,000 to $750,000 bracket.”
The First Home Loan scheme allows eligible buyers to purchase a home with a deposit of as little as 5%, although they must still meet Kāinga Ora and lender criteria.
Eligible KiwiSaver members may also be able to withdraw funds for a first-home purchase.
Scott believes one reason the First Home Loan scheme is being used more is because KiwiSaver balances have grown. He has also noticed an increase in older first-home buyers in their 40s and 50s using their KiwiSaver funds.
Summit Real Estate sales manager and salesperson Callum Gilchrist says first-home buyers make up a large part of the market across the region.
He also says confidence heading into spring is improving after a difficult winter and autumn, with the Iran war having affected people’s confidence.
The report also shows that 1738 houses were sold in the region in the year to June, up 0.8% on the previous year and above the 10-year annual average of 1683.
New listings rose 6.2%, with 2344 new listings in the 12 months to June, compared with a 10-year annual average of 2155.
The average house value in Nelson Tasman was $739,737 in June, up 0.9% on a year earlier.
Looking ahead, Scott expects prices in some parts of the region could “nudge up” while others remain stable, and says interest rates are likely to rise slowly.
