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

"Sue Hall recently acted for me with respect to the sale of one of my properties and she had also previously acted for me with the sale of another property. I must say that it has been a pleasure to deal with Sue. She is courteous, efficient, very direct and business like with her statements and communicates regularly. As a busy..."

- John
More testimonials »

Hamilton's Median House Price Keeps Pace with NZ Median

19th Nov 16

Real Estate Institute of NZ (REINZ) statistics released in October show Hamilton’s median house price of $510,750 is keeping pace with the New Zealand median.

Lodge Real Estate’s managing director Jeremy O’Rourke said July 2016 was the first time since August 2008 that the city’s median house price had been above the New Zealand median for several months in a row.

He said Hamilton’s median house price is now keeping pace after being a considerable laggard.

“From this one statistic, we can determine a few key facts about Hamilton’s property market."

"First it’s a sign of increased demand for properties in the city.  It also proves buyers find great value in Hamilton properties while also appreciating the lifestyle benefits the city provides."

“Hamilton’s median being at this sustained record level also demonstrates the confidence both buyers and sellers have in the Hamilton residential property market.  We don’t anticipate the median will dip anytime soon,” said Mr O’Rourke.


The past year has seen extremely sharp rises in Hamilton’s median house price.  In May 2015, the city’s six-month, rolling average median house price was nearly 20 percent lower than New Zealand’s.

“Given the rate of growth Hamilton has had, we’d expect over the next four to eight weeks we’ll start to see a slower rate of increase in the median, but it should continue rising month on month,” said Mr O’Rourke.

He said a contributing factor to the rising median was that there have been fewer sales in the $300,000-$450,000 price bracket.

“With investors pulling out of the market due to new loan-to-value ratio (LVR) restrictions, we’ve seen a decrease in the number of homes sold in lower price brackets.”

Currently, some of the highest demand residential properties in Hamilton are family homes on large sections.

“We’re finding at the moment the properties that are commanding the best prices are four to five bedroom homes on larger sections in some of the city’s established suburbs. These properties are quite unique and are in high demand.”

 

* Courtesy of Waikato Business News

^ top
Filed under Hamilton / Waikato \ Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

Sticking with Tradition

Bindi Norwell, CEO of the Real Estate Institute of New Zealand featured on 1 NEWS Breakfast this morning to discuss the New Zealand real estate market.

Read More »

Have your say with the Hamilton City Council

Every six years, Council's are required to hold a review around their representations and this year, the Hamilton City Council will be holding it's Representation Review. To help with the pre-consultation phase of the review, the Council has launched a public survey via the internet.

Read More »

The Doors are Reopening!

After a year and a half of waiting, the Hamilton City Council has announced a date for the reopening of the Central City Library. Back in December 2016, there were serious concerns raised around the safety of the Library building, should Hamilton experience any seismic activity. The issues that were discovered called for the immediate close of the building until repairs could be carried out.

Read More »

The Vision of Te Awa Lakes

I first reported back in October 2017 that the Perry Group had big plans for a disused Te Rapa quarry site under the project name of "Te Awa Lakes". The plan has not yet been given the official go ahead as the area needs to be rezoned and approval given by the Hamilton City Council for the area to be used in accordance with the Te Awa Lakes project plan. Nevertheless, interest in the development continues ...

Read More »

Three questions you should ask your Mortgage Advisor

When you’re shopping around for a mortgage, it makes sense to work with someone who understands the industry and market conditions. A Mortgage Adviser is that person - Someone who acts as an intermediary between you and the Lender, working on your behalf.

Read More »

More Blog Articles »