QV On Hamilton Residential Property

QV On Hamilton Residential Property



QV’s Residential Price Index for October shows that property values in Hamilton are 0.6% lower than the same time last year and 11.4% below the market peak of late 2007.

Mr. Richard Allen of QV Valuations said: “Over the last three months values have continued to move in a positive direction, after being flat for several months prior to that.”

“Most areas within Hamilton City except the Central City/North West area increased in October. Although the residential property market in Hamilton may be improving, the number of listings has dropped slightly. There is still probably a need for cautious optimism as properties are still taking a little longer to sell and there is a feeling that it is still a buyers’ market” Mr. Allen said.

QV’s Residential Price Index is calculated using sales data from the 3 months leading up to the month being reported. It is not the same as the average sales price, which fluctuates in line with the mix of properties selling in upper or lower price brackets. The average sales price for Hamilton in October was $340,413.

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