Sue Hall

"My reputation is your guarantee"

"Just wanted to thank you for making the sale of 53 Carrington Avenue so seamless and stressless. My only regret is that we haven't actually met you yet! But we will make sure to come over and do that before long. Anyway, thanks again for all your great work on our behalf. "

- Trevor & Pauline

"Great company, great resources and great people. Sue has managed to sell our house within only the two month period we agreed upon. The sale became unconditional within seven days and Sue managed to keep our lovely tenant in place, as we had promised them. Great job! Thank you Sue and your team. "

- Mujiono family
More testimonials »

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

26th Apr 18

 

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.

“However, home listings have not kept up with those sales. On 1 March, there were 792 homes available for sale in Hamilton and on 1 April the number listed was still the same at 793. This supply-demand imbalance means the power has shifted slightly toward sellers in the Hamilton market,” says O’Rourke.

As reported by the Real Estate Institute of NZ (REINZ) on 17 April, Hamilton’s median home price increased during March to $535,000 which compares to $522,000 in February and $540,750 in March 2017.

Mr O’Rourke says digital and social channels are impacting the speed with which buyers respond to properties new to market. This, he believes, is a primary reason for the rise in multiple, competitive offers being presented to home sellers so early in the marketing process.

“This year, in particular, we’ve seen an increase in the number of multiple offers coming in on quality home listings. This is much different than, say, five years ago. And we’re putting it down to the transference of marketing dollars from print to social and digital channels.

“Marketing channels, like Facebook and Google, are changing the way home listings are put in front of people who weren’t necessarily thinking about buying a new home – people we refer to as passive buyers. Traditionally the newspaper was the most effective way of reaching these buyers.

“However, the power of these digital channels, when used effectively, means when a listing goes up online, we are often seeing multiple offers on quality properties before the Saturday papers hit letterboxes. This is one more example of how the power of Facebook and Google is changing consumer behaviours – in this case, in how buyers, sellers and agents interact in the real estate market,” O’Rourke explains.

^ top
Filed under Hamilton / Waikato \ Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

Generational Change

Its not news – With every generation change, the way we live our lives changes as well. Never has that statement been as correct as it is now … Economically, it makes more sense to go out and buy a jersey instead of knitting one, the big “OE” is now par for the course, a large amount of socialising is done via Apps or websites, more and more infants and toddlers are in full time care as both parents need ...

Read More »

In Hamilton? Really?

It’s no surprise that Auckland has the highest number of million dollar homes in the country. But did you know that along with Queenstown and Wellington, Hamilton has some of the most expensive non-Auckland real estate? It’s true! A couple of properties on Pembroke Street, right by the Lake, were worth $17.2 and $15.8 million dollars! Those two sales hold the top two places for the most expensive real estate outside of Auckland!

Read More »

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 »

More Blog Articles »