Sue Hall

"My reputation is your guarantee"

"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

"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 »

Market factors align creating great opportunity for first home buyers in Hamilton

15th Jun 17

Lodge Real Estate’s managing director Jeremy O’Rourke says a combination of factors have created an excellent opportunity for first home buyers in Hamilton.

“First home buyers interested in purchasing a home in the Hamilton market have a great opportunity to do so while prices have plateaued. There are a good number of low to mid priced homes currently listed on the market at more realistic price points than what we were seeing twelve to eighteen months ago."

“So, our message to first home buyers at the moment is: This is not the time to be cautious. Although prices have eased off a bit, history tells us they will rise again. If you’re a first home buyer, this is not the time to wait and see what happens in the market. It’s time to act,” said Mr O’Rourke.

Mr O’Rourke said another factor creating a window of opportunity for first home buyers was the lack of investors in the market.

“The loan to value ratio (LVR) restrictions which came into force last year certainly have served to dampen investor activity in the market. For the past few years, investors really were severely hampering first home buyers’ abilities to purchase as they were competing directly with them. That’s not the case at the moment,” he said.

He said a further factor that is likely to affect prices in the near future was migration – In particular, urban and northern migration.

“For some time, we’ve been seeing people moving from Auckland into Hamilton. Plus, people are moving from the south into Hamilton."

“We predict these two trends will continue long-term and many of these buyers often compete with first home buyers. This is just a further reason why first home buyers should consider acting now before this migration has a material effect on Hamilton house prices,” he explained.

The Real Estate Institute of NZ (REINZ) released its figures for May today showing Hamilton city’s median house price during May was $534,500, compared with $535,000 in April and $480,000 in May 2016. The number of homes sold in Hamilton was up from 240 in April to 309.

Mr O’Rourke said there is a good number of homes currently listed on the Hamilton market, with 692 homes currently available for sale in the city.

“Properties are sticking around longer. It’s currently averaging 37 days to sell a property in Hamilton, which compares to 24 days to sell in May 2016."

“Some vendors are getting ahead of the market and listing their homes at ambitious prices, which can delay sales,” he said.

^ top
Filed under Hamilton / Waikato \ Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

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 »

The Results are In - Who's the Fastest and Who's the Slowest?

You've got to move quickly in Invercargill if you want to buy a home.  Real estate in the southern-most city is among the fastest selling in the country, due to increased demand from first home buyers, real estate experts say. Of the 12 suburbs where houses spent the shortest time on the market last year, all but three had median property values of less than $500,000.  Invercargill dominated the list, with homes in four of the city's suburbs typically selling within 20 days or less.

Read More »

Christmas at the Lake 2019

Once again this year, Christmas at the Lake returns to Innes Common. The free, community event will be happening this coming Saturday 21st December 2019 and will kick off from 5.30pm. There will be tonnes of performances and things to do including eight dance groups, four live bands, food stalls, rides and slides as well as face painting and Santa might even call in to visit the kids!

Read More »

More Blog Articles »