Rental property lure for first home buyers
BNZ’s latest Financial Futures Research shows that nearly half (44%) of first home buyers would consider buying a rental property in order to get on to the property ladder.
That’s because for would-be homeowners in more expensive areas investing in a smaller property in a cheaper suburb, or combining their savings with others to buy a shared property is often a good option.
BNZ director of retail and marketing Paul Carter says they are seeing a shift in the traditional path to home ownership, with many now believing that property investment is a more achievable path
“We asked people what they were prepared to do to get on the property ladder and 44% of first home buyers said they want to buy an investment property, either in a cheaper suburb of the city where they lived or elsewhere in the country.”
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