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

"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

How is the Real Estate Market looking following Covid-19?

Though it is always difficult to have a crystal ball when it comes to predicting the real estate market, there are several historical factors we can look at when evaluating the market moving forward.  A number of comments in this blog have come from trusted sources and experiences of those who have had lengthy careers in the Real Estate industry, including working through the previous Global Financial Crisis.

Read More »

Covid-19 and Your Property - What You Need to Know

For answers to the frequently asked questions regarding Covid-19 and Real Estate, please visit this informative article from Lodge Real Estate.

Read More »

Balloons Over Waikato 2020

It was with extreme disappointment and heavy hearts that the organisers of Balloons Over Waikato announced that all public events, including morning inflation and the Nightglow have been cancelled. "As per the Government recommendations in regards to mass gatherings, Balloons over Waikato have made the decision to cancel public attendance at Innes Common for morning flying, The University of Waikato for Nightglow, and all other sub events associated with the Festival."

Read More »

Ruakura Inland Port Set To Open In Two Years

An inland port the size of Auckland's CBD in Hamilton is one step closer with Tainui Group Holdings and Port of Tauranga joining forces to open at Ruakura within two years.

Read More »

Waitangi Day 2020

The 6th of February every year is Waitangi Day.  This day is the most important marker in New Zealand’s history and commemorates the first signing of Te Ririti o Waitangi, The Treaty of Waitangi. Waitangi Day is a day to reflect on the controversy that surrounds the Treaty of Waitangi – Throughout history and within today’s society, how this has affected all New Zealanders and how it has shaped the country in which we live today.

Read More »

More Blog Articles »