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With the price of existing properties going through the roof, demand for house and land packages from franchise builders like Signature Homes is growing. (file photo)
Taranaki’s booming property market is driving demand for new homes, but as many buyers look to build section prices are soaring too. Signature Homes Taranaki managing director Geoff Mockett said he had seen a noticeable boost in demand for house and land packages in the reigon. This was due to the booming prices of existing homes narrowing the gap with the cost of a new build. In November, record median houses prices were set in the region’s three districts, with New Plymouth’s now at $585,00, South Taranaki’s at $353,500, and Stratford’s $392,000, Real Estate Institute of NZ (REINZ) figures show.