PHOTO: SUPPLIED Some experts recommend first home buyers in Auckland set their sights on apartments in the CBD, while others say they’re better off buying a house further out.
Property experts are divided over whether first home buyers are better off purchasing an apartment in central Auckland or a house in the region’s outer suburbs.
However, an economist says for many young people, neither would be a solution as high prices have locked them out of the property market altogether.
Data from CoreLogic shows nearly half of the homes sold so far this year in Glen Eden, Māngere and Papakura have been purchased by first home buyers. The average prices in those areas were $655,931, $690,657 and $611,200 respectively.
While CoreLogic senior property economist Kelvin Davidson acknowledged people had different reasons for choosing to live in particular suburbs, he expected Pukekohe, Mt Roskill, Glenfield and Te Atatū South to increase in popularity with first home buyers.
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