First home buyers struggle to enter property market

The average asking price in the Taranaki region hit a record high of more than $400,000, driven by fewer homes in the market and growing demand.

The competition has created a tough market for those wanting to take a first step on the property ladder, Western First National real estate consultant in Taranaki Jamie Gemmell told Fairfax Media. “When these first home buyers are looking at a house, there might also be an investor in the mix or a second-home buyer with more behind them,” Gemmell said.

The average asking price in the Taranaki region hit a record high of more than $400,000, driven by fewer homes in the market and growing demand.

The competition has created a tough market for those wanting to take a first step on the property ladder, Western First National real estate consultant in Taranaki Jamie Gemmell told Fairfax Media. “When these first home buyers are looking at a house, there might also be an investor in the mix or a second-home buyer with more behind them,” Gemmell said.

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