Property market unsurprising

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.