Daniel Hopper

Real estate market update: Hamilton - February 2019

How is the property market in Hamilton?  
  Below is a summary of the current market, including statistics, and a bit of an overview of what this all means.

According to The Real Estate Institute of New Zealand (REINZ), January's median house price in Hamilton was $579,000 - an increase of 3.6% on December, and a MASSIVE 15.8% INCREASE on the same time last year.

This is on very similar sales volume to the same month last year.

Comparatively, Auckland House prices are down 2.4% over the past 12 months. We're all feeling pretty positive about the Hamilton Real Estate market moving forward, with this proving extra comfort we're in a good place.

Average property values increased 5% over the past 12 months, with the biggest value increase of 6.9% in the central and north west of Hamilton.

Property available for sale has edged up in the New Year, at the time of reporting 771 properties were on the market, offering some relief for buyers. We expect this to flow through to sales over the coming months as buyer enquiry turns into listings sold. The number of unconditional sales for January were down and days to sell were up on previous months as was expected for the holiday season, however the median sale price rose to a record $579,000.

Key property stats from the past last 3 months
Key property stats from the past last 3 months - February 2019
Rural and Lifestyle
The New Year has seen listing numbers in the lifestyle market increase with a good number of bare blocks available. Sales were lower as expected over the holiday break but numbers are improving as we move into the New Year with more options available and steady demand. If you are considering a move contact one of our rural and lifestyle team, whether buying or selling we have all the information you need to make an informed decision.

Commercial and Industrial
The commercial and industrial property market has maintained the momentum of 2018 into the New Year. Tenants are actively seeking leases for new business enterprises, especially in the food and beverage market. Enquiry form commercial investors has also kept our team busy so we are expecting continued growth in 2019.