Inglewood, Waitara join boom in housing
Monday 30 August 2004
The property market is booming in two New Plymouth satellite towns as house buyers discover a more affordable place to live.
By The LandlordHouse sales and prices have soared in Waitara and Inglewood in the last 12 months and the boom shows no sign of slowing.
In both towns a lack of available properties meant houses were selling quickly and demand was high.
Agents say the proximity of Waitara and Inglewood to New Plymouth means many new residents commute to the city to work.
In Waitara, property values have increased by 30% over the year and the number of sales is up 20%.
Read More - Opens in a new window
Commenting is closed
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.
Economists say that the Reserve Bank has left the door open to lower or even negative rates, as it kept the official cash rate on hold in its Monetary Policy Statement (MPS) today.