Sue Hall

"My reputation is your guarantee"

"If anyone is looking for an excellent no nonsense Real Estate Agent, then look no further than Sue Hall - She’s the one! Her knowledge of the Real Estate industry is invaluable. Sue always goes that extra mile, willing to meet with you any time of the day or night. Sue sold me my first home in 2010 and since then..."

- Vikki Seaman

" 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
More testimonials »

First Home Buyers Should Act Now!

4th Jul 17

If you’re a first home buyer in Hamilton now’s a good time to act, according to two leading city realtors.

The departure of investors in the Hamilton market has played a big part in prices plateauing, according to Lodge Real Estate’s managing director, Jeremy O’Rourke and Harcourts’ general manager, Brian King. 

Increases in house prices over the last year or so have put even modest homes out of reach for many potential first home buyers.

But Jeremy said a combination of factors have created an excellent opportunity for first home buyers in Hamilton.

“First home buyers interested in purchasing a home in the Hamilton market have a great opportunity to do so while prices have plateaued,” he said.

“There are numerous low to mid-priced homes currently listed on the market at more realistic price points than what we were seeing 12 to 18 months ago."

“So, our message to first home buyers at the moment is: This is not the time to be cautious. Although prices have eased off a bit, history tells us they will rise again. If you’re a first home buyer, this is not the time to wait and see what happens in the market. It’s time to act,” he said.

Brian King said some of the energy has gone out of parts of the Hamilton market.

“The huge influx of Auckland investors seems to have disappeared and that’s very good news for first home buyers."

“We were being driven by a huge influx of Auckland investors who were coming here and picking the eyes out of the market. But now locals have an opportunity.”

Jeremy said loan to value ratio (LVR) restrictions which came into force last year certainly have dampened investor activity in the market.

“For the past few years, investors really were severely hampering first home buyers’ abilities to purchase as they were competing directly with them. That’s not the case at the moment,” he said.

Jeremy and Brian both agreed that migration into Hamilton will boost future prices.

“There are still many people relocating to Hamilton to work which tells us the market will remain strong,” said Brian.

“Our feeling is that it will be steady as she goes throughout the winter. Around the end of September to December we will have a rise in the market again coinciding with spring. In that sense, we are going back to a traditional market.”

Real Estate Institute of NZ (REINZ) figures for May show Hamilton city’s median house price for the month was $534,500, compared with $535,000 in April. The number of homes sold in Hamilton was up from 240 in April to 309.

Jeremy said there are many homes listed on the Hamilton market, with 692 currently available for sale in the city.

“Properties are sticking around longer. It’s currently averaging 37 days to sell a property in Hamilton, which compares with 24 days to sell in May 2016."

“Some vendors are getting ahead of the market and listing their homes at ambitious prices, which can delay sales,” he said.

 

For the full article, visit the Waikato Business News website or click here.

 

^ top
Filed under Hamilton / Waikato \ Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

KiwiBuild Revisited

Housing Minister Megan Woods has announced a reset of the KiwiBuild scheme. The target to construct 100,000 KiwiBuild homes in 10 years has been dropped. "We will be dropping the target of 100,000 houses over 10 years. It was overly ambitious and led to contracts being signed in places where there was little first home buyer demand", Woods said.

Read More »

Anglesea Street Te Koopuu Mural Project

Hamilton is about to get a mural, and you could be the one to paint it. If you're keen, it might pay to put some time aside - The mural is set to be 11 metres high and 248 metres long - Potentially New Zealand's largest.

Read More »

Ugly Duckling? Not Anymore!

During the 1970’s, the Hallensteins Clothing Company built their new premises at 391 Victoria Street. The style of the structure and the colour scheme may have been on trend back then, but in later years, the building became arguably Hamilton’s ugliest building.

Read More »

Construction to start on Rotokauri Transport Hub

Construction of a Rotokauri public transport hub expected to cater for 30,000 passengers a month will start next month. The hub will be a combined bus and rail public transport facility, and will include a pedestrian link across the rail line to The Base.

Read More »

First Stage of Tristram Precinct

In just over a week, the first stage of the new "Tristram Precinct" will celebrate it's launch by opening the doors of a brand new, central city Kmart store. Next Thursday, the 29th of August, signals the opening and it is set to be celebrated with entertainment and giveaways.

Read More »

More Blog Articles »