New Plymouth - First Home Buyers’ Hotspot
The December 2018 average house price in New Plymouth was $457,807, well below the New Zealand average of $682,938, according to QV Property Statistics. Kim Fever, the owner of Tall Poppy New Plymouth, says in her experience around 45 per cent of the market is currently first home buyers.
“We have a wide variety of people looking to settle in New Plymouth; people returning from their OE; or returning to raise their families. We’ve seen significant growth in employment and regional development, but house prices are still considered conservative - a win-win situation for house hunters.”
“Taranaki is so beautiful, we get to experience all the seasons. From skiing in winter to the beaches in summer, our fabulous gardens and coastlines, Womad and The Bowl for concerts and the Lyn Lye Centre we have it all, and we’re well connected with the rest of New Zealand”, says Kim Fever.
Heather Houghton bought her first home in New Plymouth a few months ago. She says along with the great house prices; the city ticked all the boxes.
“Apart from being a beautiful place to live, it offers so much to families. There are lots of special places to visit - the Domain, playgrounds and bush walks. The people make it something unique, since moving here everyone has gone out of their way to help - and it’s such an accessible city. Everything was within 9 minutes on my GPS’, says Heather Houghton.
In early January, LVR (Loan to Value Ratio) restrictions were eased by the Reserve Bank, making it easier for first home buyers to get a loan. Kim Fever anticipates demand for first homes will remain strong in New Plymouth.
“We don’t expect there to be any changes to the local market, it will be steady as she goes as the market is less volatile than other parts of New Zealand. I think we’ll also see more new houses being built, as it becomes more attractive”, says Kim Fever.
First home buyers thinking about buying in New Plymouth should make the jump says, Heather Houghton.
“Just do it. If you compare house prices here to the Waikato (where I’m from) you get so much more in New Plymouth - for what you can buy in Waikato you could afford to buy two in New Plymouth, it’s such a great place to live I’m so glad I chose to buy my first house here”.
After launching in late 2018, Tall Poppy has big plans for New Plymouth. Michael Seymour, Owner of Tall Poppy says the welcome from the local community blew them away.
“It’s an exceptional market to be working in. We love New Plymouth - as soon as we arrived people got in behind us and what we have to offer. It’s great to be able to work in an area that makes first home ownership so achievable, and already we’ve saved New Plymouth locals more than $45,000 in fees”, says Michael Seymour.