Hamilton residential housing ends 2012 on par with 2011

MEDIA RELEASE
15 January 2013

Hamilton residential housing market ends 2012 on par with 2011

• Hamilton house sales for Jan-Dec 2012 period up 22.6% on same period last year
• Hamilton city median house price for Dec 2012 was $337,500; same as Dec 2011
• Median time to sell a Hamilton home in December was 34 days; compared with 30 days in November 2012 and 31 in December 2011
• Hamilton market sales were 190 homes in Dec 2012; compared with 198 in Dec 2011

Hamilton, New Zealand - Lodge Real Estate in Hamilton, the city’s largest agency by volume, reported today the number of homes sold within the city during the 2012 calendar year was up 22.6% on 2011.

The median house price in Hamilton, however, hasn’t shifted. The median house price for December 2012 was $337,500 – exactly the same median price as reported in December 2011.

The number of sales during the month of December 2012 was also on par with last year with 190 being sold this December and 198 last December.

“We were a bit surprised by the low number of house sales reported for December as it certainly doesn’t reflect the positivity and high buyer demand we’re seeing in the market. We had a lot of active buyers in the market over the holiday period, which should reflect favourably in January’s statistics.

“The fact that Hamilton’s median house price hasn’t shifted at all from 2011 to 2012, means the city continues to provide buyers with excellent value for money.

“The days-to-sell continues to hover in the low 30s. Historically, we normally won’t see a major upward shift in prices until that number edges closer to 25 days,” explained Jeremy O’Rourke, Managing Director.

Mr O’Rourke said the stable Hamilton market means buyers can act confidently. “There is a good sentiment in the city. The economy is growing and there’s a general buoyancy out there. That, coupled with a stable housing market, means it’s a great time for buyers to make their move.”

ENDS

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