A notable shift in the housing market as first home buyers have the highest share of purchases in two decades. 

The Cotality Monthly Housing Chart shows first home buyers account for 27% of market activity in July, a 5% jump on the long-term average. 

It also finds existing homeowners trading up or down, remain at historically low levels. 

Head of Squirrel Mortgages' David Cunningham told Ryan Bridge there's less pressure on buyers to instantly throw an offer on a home. 

He says interest rates have gone down, KiwiSaver balances are higher, and there's less competition. 

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