Prop­erty mar­ket un­sur­pris­ing

Hamilton Press - - CONVERSATIONS - HOUS­ING

Hamil­ton’s res­i­den­tial prop­erty mar­ket is trend­ing nor­mally at the start of 2017.

Lodge Real Es­tate’s man­ag­ing di­rec­tor Jeremy O’Rourke said they had been wait­ing un­til April prop­erty statis­tics were re­leased by the Real Es­tate In­sti­tute of New Zealand to see how Hamil­ton’s res­i­den­tial prop­erty mar­ket was be­hav­ing along­side his­tor­i­cal trends. It is ap­par­ent that this year should be­have nor­mally, he said.

‘‘As with most other years, the city had very few sales in Hamil­ton was down from 337 in March fig­ures to 240.

The city’s me­dian house price dur­ing April was $535,000, com­pared with $540,750 in March and $458,000 in April 2016.

O’Rourke said buy­ers re­main very con­fi­dent in the Hamil­ton mar­ket and he ex­pects this pos­i­tiv­ity should con­tinue through the end of the year.

‘‘Al­though con­fi­dent, we are see­ing Hamil­ton buy­ers are also more cau­tious in the Hamil­ton res­i­den­tial hous­ing mar­ket.’’

For the lat­est mar­ket data, visit reinz.co.nz.

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