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 »

Hamilton Real Estate Market: Five Market Factors Characterise Last Six Months

13th Jul 17

Lodge Real Estate’s managing director Jeremy O’Rourke says five distinct market factors will characterise the last half of 2017 in the Hamilton residential property scene.

“We’re half way through 2017 and we’ve seen a marked difference in Hamilton’s residential property market this year, as compared to the past two years.  The frenetic activity we’ve experienced is over for now and the city’s home sales activity is easing into more of what we would term as a normal market rhythm."

“Our team has had a look at historic trends and coupled these with activity, demand and supply factors evident through the first half of the year.  Using that data, we predict five distinct market factors will impact the next six months within the Hamilton residential property market,” he says.

 

Factor 1:  High Demand for Bare City Sections and High-end homes

“Two types of Hamilton properties that will continue fetching top dollar and seeing fierce competition through to the end of the year are bare sections within the central city as well as high-end family homes."

“These properties continue to see multiple bidders intensely competing as they come to the market.  All signs point to these two types of properties continuing to demand top dollar as we move into the last half of the year,” says O’Rourke.

 

Factor 2:  Side-lining of Demand

“The Reserve Bank’s Loan-to-Value (LVR) restrictions on property investors coupled with the big four Australian banks turning off the lending tap, has served to sideline buyer demand.  We predict buyers will continue to see the noose tighten on lending as we ease into the last half of the year."

“For those who can access funds, this creates a fantastic opportunity for the savvy buyer to act now."

“The risk we see however, and what historic trends show, is that buyers and sellers will be poised and ready to move when lending restrictions relax.  And when they move, they all move together which will create another market surge.  However, this surge is unlikely to happen in 2017,” O’Rourke explains.

 

Factor 3:  Rental Supply at Critically Low Levels

“Our city’s rental supply is sitting at critically low levels and unfortunately we predict there is no good news for those looking to rent within the next six months."

“We manage a large portion of the city’s rental properties and we currently have less than a one percent (1%) vacancy rate.  We are signing new lease agreements for our rental properties even before vacating tenants move out.  Unfortunately, LVR restrictions are the key factor driving a lack of supply and we will see very few new rentals coming available in the near term,” he says.

 

Factor 4:  Elections Will Further Dampen Activity

“The years we have General Elections always see a hesitancy in the market and we predict the same will be true this year.  Buyers and sellers alike will normally wait to list or buy properties until after the election, when there is certainty around the governing party and its policies."

“During August and September, we predict buyer and seller activity in the Hamilton market will dampen even further than current levels,” he says.

 

Factor 5:  Immigration a Key Factor in Price Pressurefrenetic

“Even with the market slowing down this year, the vast majority of Hamilton homeowners can remain confident that their homes will retain their values.  That’s because residential demand is steady and this is largely due to increased intercity and foreign immigration.

“This sustained demand is the key factor why I won’t be surprised if Hamilton’s median house price outpaces the New Zealand median house price at some point within the next six months,” says O’Rourke.

The Real Estate Institute of NZ released its market data today showing Hamilton’s median house price fell from $534,500 in May to $515,000 in June.  A total of 269 homes were sold in the city during June, as compared to 341 in June 2016.  It is currently averaging 32 days to sell a home in Hamilton.

^ top
Filed under Hamilton / Waikato \ Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

Intense Competition and Confidence Drive Hamilton's Record Median House Price

Hamilton’s median house price achieved a record during April 2018 at $562,000, according to the Real Estate Institute of NZ statistics released on 11 May. This is up from a $535,000 median in March 2018.

Read More »

High End Hotel Vacancy Filled

The building that once housed Les Mills was torn down back in 2014 and, back then, there were plans for a retail and office space to be built. Fast-forward to May 2018 and the Hamilton City Council has now approved a hotel development for the vacant site.

Read More »

Exciting Future Ahead

Back in 2014 the Inland Revenue Department announced that it needed new premises to house it's 900 staff that were, at that time, based in the somewhat iconic IRD building in Bryce Street. Since then, around 400 staff have moved to offices in Garnett Avenue, Te Rapa leaving 500 still in Bryce Street. However in 2016, a second announcement was made by the IRD advising that an agreement had been reached with a development company for a lease in a new development to be built on Home Straight, Te Rapa. To date, plans are on track for the staff housed at Bryce Street to move to the new Te Rapa offices later this year.

Read More »

Hamilton's Residential Housing Market is Shifting in Favour of Sellers

Lodge Real Estate’s Managing Director Jeremy O’Rourke says Real Estate Institute of NZ statistics released on 17 April show Hamilton’s residential housing market is shifting in favour of sellers. “March was a very strong month for home sales in Hamilton and buyer demand continues to rise. There were 344 homes sold in Hamilton during March and that compares to just 291 in February and 336 in March 2017.

Read More »

The Designs are In

Proposed designs for Hamilton’s new Waikato Regional Theatre have now been released. The design sees the Theatre overlooking the Waikato river and includes a boutique hotel, an art gallery, retail space and the Theatre itself comprising of 1300 seats.

Read More »

More Blog Articles »