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 »

Unprecedented Increase in Sales

22nd Jun 16

Lodge Real Estate’s managing director, Jeremy O’Rourke, today confirmed the number of million dollar residential properties sold in Hamilton has officially hit a record high.

“Latest data shows that six Hamilton homes above the million dollar mark were sold in May 2016, compared to three during the previous month (April), and two one year ago (May 2015),” he said.  “Overall, between May 2015 and May 2016 there has been an 89% increase in the number homes above the million dollar mark sold in Hamilton,” he said.  Mr O’Rourke said the rise in million dollar sales demonstrates an increasing confidence from buyers in this top bracket to pay more to get what they want.

“We are not seeing the same hesitancy as we saw a year ago from buyers purchasing homes above the million dollar mark,” he said.  “Factors such as low interest rates, higher decile schooling in certain areas and consistency of neighbourhoods are prompting buyers to upgrade their homes in this market. They’re aware if they wait to upgrade, it could cost them more in the long-run.

Increase in Sales

Mr O’Rourke said the tightness of listing stock in Hamilton is also contributing to the number of million dollar sales.  “While demand for housing continues to remain strong, sales stock is low so choice is limited. This increases competition for available properties – including the million dollar homes.

“People know if they don’t get in today, they’re likely to miss out on the home they want. Many are willing to pay larger sums of money to ensure they get the property that best fits their criteria.”

He said properties above the million dollar mark have traditionally been sold in the river and lake areas, however buyers are now prepared to pay similar prices in the North East of Hamilton.

According to the Real Estate Institute of New Zealand (REINZ) data released this week, median house prices have also hit a record high.  REINZ data reports New Zealand’s national median house price has passed the $500,000 mark for the first time, hitting $506,000.  Hamilton City’s median house price, specifically, has increased to $480,000, which is 4.8% higher than last month (April 2016) and 29.7% higher than one year ago (May 2015).

^ top
Filed under Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

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 »

Te Koopuu Mural Project Artists Selected

New Zealand’s soon to be largest mural has now got mastermind artists behind it and they are preparing to bring it to life in January 2020. A group of visual artists operating under the name Te Whētū Collective were recently selected to tackle the 248 metre long canvas.

Read More »

Hamilton's Average House Price Just Under $600,000

A lack of stock, a revitalised CBD and a positive economy helped push the average house price in Hamilton to $596,912 in November, according to the latest snapshot of the housing market. The CoreLogic QV House Price Index found Hamilton saw a 5.5 per cent year-on-year increase in average value, up 1.5 per cent on the quarter and 0.8 per cent higher than the month earlier.

Read More »

More Blog Articles »