First-home buyers are being told now is the time to strike with cheeky offers on houses, to see if they can get a good deal from an over-stretched investor.

Tony Alexander, BNZ’s chief economist, said in his most recent weekly update that the market was moving in favour of first-time buyers.

“A lot of investors have over-extended themselves in the past three years and their hopes of new investors taking property off their hands at a tidy profit have been dashed.”

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CAMERON BURNELL/FAIRFAX NZ

Tony Alexander is watching the changing language in real estate ads.