Sue Hall

"My reputation is your guarantee"

"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

" 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
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

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 »