KEY POINTS:
Since Reserve Bank Governor Alan Bollard cut the official cash rate by a whopping 150 basis points earlier this month - topping October's then record-breaking 100 basis point cut - chief executive of Mike Pero Mortgages, Shaun Riley, says his firm has been "inundated" with inquiries from first-home buyers.
Low interest rates have "certainly piqued the interest of people thinking it might be becoming a good time to buy soon," mortgage broker Mark Jurgeleit agrees.
Also encouraging is that national home affordability has improved 4.6 per cent in the past year, the latest figures from Massey University show.
Another broker, John Bolton, says buyers tend to be the professionals who are more confident about their employment and looking to get into more desirable suburbs.
"Having stable, low-risk jobs is key. No one will lend to mortgage brokers or real estate agents."
First-time buyers in Auckland city typically look in the price range of between $380,000 and $450,000, he says.
