Sue Hall

"My reputation is your guarantee"

" Sue Hall You've done it again Sue! Sold another home for us in a very professional manner, kept us informed throughout the process and done so in a caring way. We couldn't have asked for more. Thank you Sue!! "

- Sonny and Eileen

"What I like about Sue is her professional behaviour, integrity, reliability and how she is totally straight up and honest. All traits that are of utmost importance when dealing with clients' biggest decisions in their lives – Buying and selling a home. I know Sue is fantastic at what she does - She has proven herself to me over and over...."

- Vikki Seaman
More testimonials »

2017 So Far - Sales Data for the Hamilton Property Market

5th Jul 17


Despite the evidence of a flattening housing market across New Zealand, Hamilton and the wider Waikato real estate market is still looking very healthy.

“With statistics now out, it is apparent that this year should behave normally, in line with historic trends,” says Lodge Real Estate director, Jeremy O’Rourke.

In the first quarter of 2017, there was the usual slow-down over the holiday season in January followed by a strong bounce-back in late February through to March. As for the second quarter, we’ve seen a sales decrease. This was in line with the Easter and Anzac Day long weekends in April and the usual slow-down with the coming winter.

So what are the numbers saying about the Hamilton property market? Let’s take a look.

The Stats

The number of homes sold in Hamilton in April 2017 came in at 238, down from our April 2016 figure of 361 - A 34.1% per cent drop in sales volume from this time last year.

Hamilton’s northern suburbs have had significantly higher home sales than other suburbs, with a grand total of 350 sales from January through to April. The western suburbs come in second at 198 sales, followed by the eastern suburbs at 182, central suburbs at 130 and southern suburbs at 109.

Compared to this time last year, the median house price in Hamilton City has grown 17.5% from the April 2016 average at $458,000 to $535,000 in April 2017. While there was a 0.6% drop from the March 2017 average house price, there is no cause for alarm.

“This is a very normal trend,” says Jeremy. “From these numbers, we are now projecting that it is unlikely we’ll experience any surprising highs or lows in Hamilton’s residential property market this year.”

The takeaway? While sales volumes have dropped, house prices continue to grow, but just not at the breakneck pace seen in previous years.


What Buyers are Doing?

Despite tighter lending restrictions and a drop in activity compared to last year, property investors continue to be at the top of home sales - Claiming 33% of Hamilton’s house sales in May 2017.

Movers have claimed second spot - Taking up 24% of Hamilton’s home sales in May. Following national trends, there’s been a rise in the number of first home buyers entering the market. These made up 22% of May’s house sales.

The national shift towards a buyer’s market also means that buyers are being more cautious, and can afford to be more prudent when assessing a property.

“What this means for vendors is that listing homes at overly ambitious sale prices can cause a property to be overlooked,” says Jeremy.

“If a home is listed at an unrealistic price, it’s not unusual for potential buyers to completely discount that property, including skipping its open homes,” he explains. “This measured approach by Hamilton real estate buyers means some sellers are having to adjust their price expectations downward somewhat.”

Predictions for Hamilton and the Waikato

While New Zealand’s real estate market slows, property values are still growing, especially in the Waikato. In the last 12 months, the average property value grew 11.1% nationally and the Waikato by over 20%.

“While we’re not seeing the same rate of growth as a year ago, the market is still in very good shape,” says Jeremy.

In May, CoreLogic reported that Hamilton’s listings were still tight compared to a year ago, which means there’s still a high demand for property.

“People are still attending open homes and coming to auctions, and buyers remain confident,” Jeremy says.

Despite the onset of winter and the usual slowdown of sales, we can expect to see the positive growth of property values continue through to the end of the year.

^ top
Filed under Hamilton / Waikato \ Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

2018 Balloons over Waikato

The 2018 Balloons over Waikato Festival officially kicked off early this morning at Innes Common.

Read More »

Hamilton's Market is Ramping Up!

The latest QV house price figures are out and show that nationwide, property values are increasing. In February, house prices nationwide have increased 6.5% to an average of $672,645, which is an increase of 1.2% in the last three months

Read More »

Light at the end of the Tunnel for Hamilton's First Home Buyers?

Whenever there is a change in Government, we are left wondering which plans and decisions will be upheld. Thankfully the Special Housing Areas previously planned for Hamilton are set to continue under a Labour led Government.

Read More »

Steady Increases are Predicted

Real Estate statistics are reflecting that the traditional quiet period over December / January has come to an end. People are now back at work after their Christmas / Summer break and market activity across the country appears to be picking up again.

Read More »

The Work has Begun!

Spending was approved in 2017 and this week, work will start on the $10.7m refurbishment of Hamilton's Waterworld. Originally, most of the spending was earmarked to build a new pool however the complex was built in 1976 and it has had little spent on it since. Councillor Mark Bunting remarked "It wasn't an easy decision. It's a lot of money. Unfortunately, it would cost more if we don't do it, in my view."

Read More »

More Blog Articles »