The combination of soaring house prices, low stock and growing demand is making it harder for first home buyers to enter the property market.

Jamie Gemmell, Western First National real estate consultant in Taranaki, said the competition has created a tough market for those wanting to take a first step on the property ladder.

“I personally feel really sorry for them,” she said.

Kirk Hargreaves/STUFF

Fewer homes on the market, coupled with a growing demand, has pushed the average asking price in Taranaki to more than $400,000 – breaking records for the region.

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