PHOTO: Jade Wang says the huge competitiveness in New Zealand’s housing market is tough on buyers’ mental health. Source: Breakfast
An Auckland first home buyer says the competitiveness of getting on the property ladder in New Zealand is “demoralising”.
Jade Wang this morning told Breakfast she works three jobs and lives with her parents, paying board, instead of renting in order to save up to buy her first home.
The 27-year-old has been lucky enough to secure a new build townhouse in Mt Wellington, but said the process of buying took its toll.
“It’s so demolarising, like you see, you hear about friends missing out on auctions, like I see people cry at auctions like the next runner up, they cry because they’d been searching for months. It’s just really disheartening,” she said.
Wang this morning said because if this she avoided auctions completely.
“People’s mental health is really effected by the huge competitiveness of auctions and I guess I didn’t want to just compete with everybody.
“And you have to do all your due diligence for every property and if you keep missing out, missing out, missing out like that adds up and I just don’t have that kind of money to spend on that.
“That’s why I went for a new build, so you just buy off the plans, you just also can have a 10 per cent deposit rather than a 20 per cent so it’s a little bit easier. The price is there, you know what you’re paying for so it just takes the stress out a little bit.”
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