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

"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 »

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

Hamilton home sellers cautioned against 'fast sale mentality' as holidays approach

The average number of days to sell a home in Hamilton hit 25 in October. This is the fastest average sale time in the city in five years. Additionally, Real...

Read More »

Upcoming and current Hamilton projects

Hamilton is one of the fastest growing cities in the country! In the past, Hamilton has been known as a centre for agriculture. But today it is it's infrastructure that is...

Read More »

4 ways to better understand buyers in the Hamilton property market

Understanding who your buyer is is a cornerstone to selling a house. Knowing who your key buyers are (or will be) and what their needs are can affect the value...

Read More »

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 »

More Blog Articles »