NZ 1st homebuyers are ScReWeD...

[Bjauck]

And don't overlook the main cause of house price increases - i.e. interest rates at about 20% of previous levels.

True. If you can raise the deposit, you may be able to afford a stonking great mortgage for a much smaller section with dwelling. Who knows what will happen if negative interest rates come along. Just make sure your livelihood is not in an industry exposed to less benign resolutions to the CV situation though. NZ may not be immune from negative equity situations.

ShrewdC with a good sized deposit, has a greater protection against any housing market downturn than many first home buyers.