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

"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
More testimonials »

Landscape of Hamilton City Living to Change - Demand for In-fill Housing Surges

21st Mar 17

Lodge Real Estate’s managing director Jeremy O’Rourke says city living in Hamilton is set to transform as developers gobble up large city sections earmarked for in-fill housing.

“We have seen a huge surge in demand by developers looking for large sections in the city where they can develop in-fill housing, duplexes and apartments.  Developer enquiries are much higher than we’ve ever seen.

And it’s not just big developers seeking out city sections.  In some instances, the big developers are being priced out of the market by mom and pop investors who will pay much higher prices as they sacrifice a bit of margin to get the section they desire. This means over the coming 12 to 18 months, we will see the city landscape change somewhat as more of this in-fill housing is completed. This is a sign we are maturing as a city when there are more living options for our residents,” explains Mr O’Rourke.

He says Hamilton’s housing market had a late start as poor weather delayed people from listing houses after coming back from holiday.  However, he said it’s too early to say definitively that the market has entered a sustained downward trend.

“The Hamilton market has experienced a later return to normal buying and selling activity.  And that’s meant rather than seeing a lift in February to early March as we always do, that lift has been delayed.

It’s too early to say if we are truly experiencing a downward trend in the housing market here in Hamilton.  After April numbers are in, then we’ll be able to much better predict where the market is at and where it’s heading for the remainder of the year,” he says.

With banks tightening lending even further and investors still absent from the market, Mr O’Rourke says Hamilton’s auction rooms have become unpredictable.  “Auction clearance rates are down in Hamilton, which was to be expected as rates couldn’t continue at the frenetic levels agencies across the city experienced last year.

However, tightening bank lending criteria plus fewer investors vying for properties has created an unpredictable environment in the auction room.  Some properties still command heavy competition with multiple bidders, while some quality properties get passed in."  "Banks’ tighter lending criteria is adding to this fickle auction environment, with many first home buyers entering negotiations once a property is passed in,” he says.

The Real Estate Institute of NZ released figures in mid March showing Hamilton’s median house price rose to $500,000 in February 2017 compared to $495,000 in January 2017 and $439,000 in February 2016.  The number of homes sold in Hamilton during February 2017 were 262.  This compares with 305 in February 2016.

^ top
Filed under Hamilton / Waikato \ Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

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 »

Boost for KiwiBuild in Hamilton

Hamilton’s Mayor Andrew King recently met with the Housing Minister Phil Twyford. After the meeting, Mayor King was sent back to Hamilton with one clear goal – Bring Hamilton’s house prices down!

Read More »

Water Wins in Hamilton

When you think of a home in Hamilton city, what features would you think are the most sought after? A property that is a short commute to work? A home that is located in a good school zone? One that’s handy to public transport? Agree? Well, you’d be wrong!

Read More »

First Time Buyers are Back!

After being priced out of the Hamilton real estate market for two years by investors and tight lending restrictions, first home buyers are pouring back onto the scene, particularly in the $450,000 - $500,000 price bracket.

Read More »

2018 Balloons over Waikato

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

Read More »

More Blog Articles »