It'd mean a person earning the median income could only afford a $200k house - not a lot when the average house is $820k.
"They're cashing up knowing that they can work from home and change their lifestyle."
"The Auckland property boom has basically started again."
But one popular vacation destination's median house price surged by an eye-watering 50 percent.
The Reserve Bank plans to bring back LVR restrictions from March.
First home buyers frustrated by rising house prices may find they ease off in time.
Only 33 percent of properties sold are below the grant's threshold.
"They've been facing a bit of a conundrum recently."
"The real question now is how long this can be sustained for - particularly now Auckland's back at level 3."