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


River-side and Rototuna properties compete

13 April 2016

Hamilton’s River-side and Rototuna properties compete for million dollar buyers

Hamilton, New Zealand – Lodge Real Estate’s managing director, Jeremy O’Rourke, today said that residential property buyers looking for homes over the million dollar mark are more confident than ever when it comes to purchasing in the Hamilton market.

“A year ago, we were seeing hesitancy from buyers at the top end of the market to purchase homes over the million dollar mark in Hamilton. Buyers often perceived they might struggle to make a capital gain – or even recoup costs – on such a high value property when they eventually sold.

“However, this attitude has shifted dramatically. Over the past few months, buyers in this top bracket are very confident about purchasing homes in Hamilton. There are multiple buyers active in the Hamilton market who are competing for properties above the million dollar mark,” Mr O’Rourke explained.

Mr O’Rourke said there was 34 sales above a million dollars for the 12 months ending March 2016 compared to 18 for the same period ending March 2015.

He said the highest quality homes in newer Rototuna suburbs were now going for over one million dollars, which was virtually unheard of six months ago.

“We now have Hamilton buyers who would normally gravitate toward the river for these sorts of properties looking toward non-traditional areas such as Rototuna.

“Currently the best value for money, however, in this price bracket is definitely along the river - inside or adjacent to the CBD,” said Mr O’Rourke.

Million dollar properties remain a small part of Hamilton’s residential property market, with 1% of March sales at this level. According to Real Estate Institute of NZ (REINZ) data released today 415 homes were sold in the Hamilton market during March while 359 homes entered the market during the month and listed on

According to REINZ, Hamilton’s median house price increased from $439,000 in February to $472,000 in March.

Mr O’Rourke said, the key factor increasing residential property demand and prices in Hamilton was high buyer activity by two categories of migrants.

“We’re generally assisting two categories of migrants looking for properties in Hamilton. There’s the Auckland families who are sick of the expense of living in the city and looking for a great place to raise children with an easy lifestyle and affordable housing.

“The second category of migrants seem to be those who came into the country a year or so ago and automatically settled in Auckland. But now they are looking to go elsewhere and Hamilton is a good fit for the new life they want to establish in New Zealand,” he explained.

Mr O’Rourke said Hamilton is attractive to these migrants because of the range of living options on offer – from townhouses to apartments to detached homes.

For the latest REINZ market data, visit


© Scoop Media

Business Headlines | Sci-Tech Headlines


CTU 2021 Work Life Survey: COVID And Bullying Hit Workplaces Hard, Huge Support For Increased Sick Leave

New data from the CTU’s annual work life survey shows a snapshot of working people’s experiences and outlook heading out of 2020 and into the new year. Concerningly 42% of respondents cite workplace bullying as an issue in their workplace - a number ... More>>

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>


Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>

PriceSpy: Research Reveals How Shopping Behaviours Have Changed This Christmas

According to a new survey* from PriceSpy , almost 50 per cent of Kiwis are looking to shop locally this Christmas in light of Covid-19; The research also found consumers are changing their shopping habits, with one in seven (14 per cent) getting super-organised ... More>>