First home buyer numbers increasing

The number of first-home buyers is beginning to increase in New Zealand's sluggish housing market. New data from Cotality NZ shows property sales were down 8.3 percent in May, the fifth fall in a row compared to the same month last year.But within those figures, first home buyers were the only group to increase their number of purchases this year, compared to last year. Cotality NZ Chief Property Economist Kelvin Davidson spoke to John Campbell.