Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


First home buyers & investors drive Hamilton housing market

First home buyers and investors drive Hamilton housing market

• Hamilton market sales were 246 homes in February 2013; compared with 180 in January 2013 and 247 in February 2012
• Hamilton city median house price for February 2013 was $334,000; up on $320,000 in January 2013 and up on $316,000 in February 2012
• Median time to sell a Hamilton home in February was 38 days; compared with 41 days in January 2013 and 46 in February 2012

Hamilton, 12 March 2013 – The number of homes sold within Hamilton city during February 2013 was 246, as reported by the Real Estate Institute of NZ (REINZ) today.

This month’s sales compared to 180 homes sold in the city during January 2013 and 247 one year ago during February 2012.

Jeremy O’Rourke, Managing Director of Lodge Real Estate in Hamilton, the city’s largest real estate agency by volume, says, “First home buyers continue to be active in the Hamilton market. With the Reserve Bank considering using alternative tools to control the housing market, perhaps by controlling loan-to-value ratios, some of these buyers are feeling a sense of urgency to purchase now.

“Additionally, each month we’re seeing more and more investors coming back into the market. City residential properties represent great value for money for investors at the moment. We’re even seeing investors coming in from outside the area,” he explains.

The median house price for Hamilton city was $334,000 for February. This compares to $320,000 in January 2013 and $316,000 in February 2012.

“If you look at the past five-month period, Hamilton’s housing market statistics are the best they’ve been since the end of the real estate boom. This proves the market continues to consolidate its recovery at a strong, steady pace,” say Mr O’Rourke.

Home prices in most Hamilton suburbs remain on par with January. Flagstaff, Hamilton East, Hillcrest and the Central Business District are the exception with each seeing a slight lift in sale prices.

Mr O’Rourke said the future of the Hamilton residential housing market is quite clear.

“Hamilton’s buyer base is strong and the number of homes being listed is also stable. We’re seeing a lot of confidence in the market and expect this to continue as we progress into the second quarter of 2013.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Bad Day For Rope: Donaghys Job Losses Another Blow To Dunedin

The loss of 30 jobs from Donaghys rope and twine factory is yet another blow to the people and economy of Dunedin, says Dunedin South Labour MP Clare Curran. More>>

ALSO:

Oil: 2014 New Zealand Petroleum Summit

Simon Bridges: Our abundance of energy and minerals resources provides us with unique opportunities to build the New Zealand economy.

Over the past three years the Government has made significant changes to how the sector is regulated. More>>

ALSO:

WWF Report: Solutions In Reach; World Biodiversity Suffers Major Decline

Global wildlife populations have declined by more than half in just 40 years as measured in WWF's Living Planet Report 2014. Wildlife's continued decline highlights the need for sustainable solutions to heal the planet... More>>

ALSO:

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news