There’s something exciting about building a brand new home in a new subdivision. It gives you the chance to be part of a new neighbourhood with new surroundings in a home that you’ve had input in from the ground up. With more housing needed all over Taranaki, we are seeing an increase in new subdivisions starting to pop up on the outskirts, and in the centres, of our local townships. These new developments not only include newly built homes but also walkways, playgrounds and in some cases even commercial buildings are built to service the newly developed communities.
The term seller’s market has been thrown around a lot in recent months, but what exactly does it mean? A seller’s market arises when demand exceeds supply. In other words, this means that there are many interested buyers, but the number of houses on the market remains low. With fewer homes available, sellers are at an advantage, therefore, making it a seller’s market.
Houses are not only selling for record prices at the moment but they are also sitting on the market for fewer days than the 10-year average. The property market is very much a seller’s market, and as we head into Spring, this is where house sales typically reach their most intensive period of the year. But even though more houses may be entering the market in the next few months this doesn’t mean it’s a bad time to list. There are a lot of buyers looking for their dream home and yours could be the perfect property!
Topics: Buying a house