Are we running out of land for new houses?

I've arranged mortgages for 11 sections in Matamata this month... Which has me wondering a couple of things...

Are we about to see a spike in section prices?

Are we running out of land for sections in Matamata?

I've had a chat to a few Real Estate Agents this week and it seems that a lot of building companies both in town and out of town have been buying up sections in Matamata to build new houses either as speculative builds or as House and Land Packages.

The Evergreen subdivision off Banks Road seems to have almost every section sold out and the final stage of the Findlater Street subdivision sold out in the space of about two weeks. This shows demand is hot so if you're sitting on a section that could be subdivided now would be a good time to talk to a surveyor. We work with a good local team if you'd like a recommendation or to discuss options which are available to you.

The cost of construction is still relatively cheap so if you have a chance to get in to a section or to buy a house and land package this could be a good option for you. Especially if you have a lower deposit as new builds are often exempt from the Reserve Bank deposit restrictions meaning it is easier to borrow to buy one of these.

If you'd like to discuss your options for the best construction lending and to make the process as easy as possible we're always keen to chat.

We look forward to speaking to you soon

Adam and the team at My Mortgage