It really is impossible to keep up with the fast-paced Hamilton market at present unless you are immersed in it every day. In the last 12
months, Waikato median house prices rose 14.4%, and 4% in the time since lockdown here ended. Record prices have been reached in both the
Waikato region and Hamilton city. The median property price in Hamilton is now $636,000. This flies in the face of the doom and gloom
predictions of a 10-15% drop in values post lockdown.
“With thousands of New Zealanders returning home as a result of New Zealand’s limited cases of COVID-19, many of these individuals are
looking to purchase property for their family to live in which is also likely to have bolstered June’s sales volumes,” points out Bindi
Norwell of REINZ.
We are currently incredibly short on listings in Hamilton. Listings tend to be light at this time of year, but especially so at present.
This is possibly due to uncertainty around both the global and local economies, as well as the upcoming election.
This lack of stock, as well as low interest rates, and a large pool of first home buyers and investors are all contributing to the continued
price growth. Most properties in the affordable price band are going to multi offer, and auction rooms are pumping. This is great if you are
selling, however it also bodes well for the strength of the Hamilton market long term.
The rental market continues to remain strong, with a large shortage of properties for rent across all areas of the city. Lodge City Rentals,
who have a large portfolio in Hamilton, are recording around 700 enquiries a week from people seeking rentals - however, have less than 50
In terms of new developments, the Ruakura inland port is currently under construction. This area
will consist of:
60ha set aside for a logistics centre, capable of processing 1 million 20ft containers annually. To put this in perspective,
Auckland and Tauranga ports collectively process 2.1 million 20ft containers annually
262ha set aside for an industrial park
108ha set aside for a knowledge and innovation center
138ha for residential development
3 retail areas
10% of the total area to be public open spaces
On the other side of the city, the Amberfield development will see new green areas, shopping
areas, 20,000 new homes, as well as a new bridge across the Waikato River.
Having just purchased in Hamilton myself, I believe that now is a great time to buy. Hamilton and the Waikato region have so many strong
fundamentals for investment, and the momentum of development here will not stop any time soon.
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As an accountant is not a place for my personal political opinions, but professionally speaking I’m pleased with this result, and cautiously
optimistic we might have a friendlier tax environment for the property sector for at least a few years. But what does this mean for property