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

 

Increased first home buyer activity in Hamilton market

MEDIA RELEASE
12 September 2014

Increased first home buyer activity in Hamilton market suppresses median price

Hamilton, New Zealand – Lodge Real Estate’s managing director, Jeremy O’Rourke, said today that a significant increase in the number of first home buyers entering the Hamilton residential housing market is the primary factor contributing to the median dropping to $346,500 in August from $350,000 in July.

“The slight dip in Hamilton’s median house price this month is not a signal that values are slipping. It’s simply that the median has shifted because there were more buyers at the lower end of the market this month – primarily first home buyers and investors,” explained Mr O’Rourke.

He said Pukete, Dinsdale and Forest Lake currently represented the best suburbs for first home buyers and investors to get the best value for money.

He also said prices are shifting noticeably upward in Hillcrest, Hamilton East, Rototuna and on the city fringe.

August housing market figures were released today by the Real Estate Institute of New Zealand (REINZ) and show the number of homes sold in Hamilton stayed around the same level, with 196 homes sold in August compared to 201 in July.

“We often see increased activity as spring arrives and we have started September with a greater number of appraisals and more stock being listed. There definitely is increased demand in the market and we need more quality stock to satisfy it,” said Mr O’Rourke.

New homes listed on the Hamilton market during the month of August were up slightly to 283, from 225 in July. This represents only 3% fewer homes listed as compared to August 2013. Whereas the number listed in July 2014 were 22% down on July 2013, and the number listed in June 2014 were 35% down from June 2013.

The total number of homes for sale in Hamilton during August is exactly the same as July with 883 available. Total homes for sale on the market had been decreasing from month to month, with 977 properties on the market in May, 917 in June and 833 in July.

Lodge Real Estate is Hamilton city’s largest real estate agency by volume with over 35% of residential market share. For the latest REINZ market data, visit www.reinz.co.nz .

-ENDS-

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Auckland Transport: Successful Bridge Repair Opens Two Additional Lanes To Traffic

The opening of two additional lanes on the Auckland Harbour Bridge this morning will help relieve some motorway congestion for motorists heading home to the North Shore tonight. More>>

ALSO:

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:


University Of Auckland: Whale-Watching By Satellite – Follow Their Travels Online

Scientists have successfully attached satellite tracking tags to six New Zealand southern right whales, or tohorā, and are inviting the public to follow the whales’ travels online. Part of a major research project involving the University of Auckland ... More>>

Commerce Commission: Kiwibank Admits System Failures And Agrees To Pay Customers $5.2 Million

Kiwibank has entered into a settlement agreement with the Commerce Commission after reporting that it failed to have in place robust home loan variation disclosure policies, procedures and systems. In a settlement dated 27 August 2020, Kiwibank admitted that ... More>>

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO: