Hamilton’s townhouse love affair in full bloom
Hamilton is enamoured with townhouse living and its love affair with big houses is on the wane.
Rising house prices and people’s busy lifestyles have seen growing numbers of homeowners opt for the convenience – and relative affordability – of townhouses and multi-unit homes.
More than 880 townhouses, flats and units were consented in Hamilton in 2019, a whopping
2289 per cent increase on 2011 building consent figures.
But the surging popularity of townhouses comes as growth in newly consented houses in Hamilton tapers off, according to Stats NZ.
In 2019, 556 new houses were consented in Hamilton – a decrease of 27 per cent from 2015 figures.
And those houses getting built are, on average, getting smaller.
In Hamilton East, property developer Matt Stark is creating an offering of high-end apartments near the riverside end of Clyde St. Stage one involves the creation of 19 apartments in the shell of the former Hills Laboratories building.
The penthouses range from
$1.4 million to $2.5m, lofts $595,000 to $2.3m, and the courtyard apartments from $850,000 to
$975,000.
Buyer interest in the apartments was strong, Stark said.
‘‘So far, over half of the 19 apartments are sold,’’ he said. ‘‘The level of quality that’s in this development, people are seeing it.’’
The growing demand for apartments and townhouses in Hamilton reflected people’s changing lifestyles, Stark said.
‘‘We’ve got so many activities in our lives. We go to the beach, we’re playing sport, we want to go out for dinner or lunch. The days of people passionate about picking weeds out of their gardens is fading.’’
The Hills Village development has three stages and will provide a total of 41 apartments once finished.
Lodge Real Estate Hamilton East branch manager Basil Lennan said Hamiltonians’ mindset around housing has changed over the past few years.
Previously, townhouse developments were limited to around Waikato University and the central city but today they are popping up in Queenwood, Chartwell and Claudelands.
Newer developments are also starting to cater to the high end of the market.
‘‘The Hills Village is a step above things that have been done previously and therefore it’s a good indicator to see where the market is at,’’ Lennan said.
‘‘Although these [Hills Apartments] are at the high end, what people get for their money in terms of size and space is far more significant than what they’d get in Auckland.’’
Lugtons managing director Simon Lugton said townhouses and apartments suited people who didn’t want to be tied to a larger house or section, and fulltime work meant it was challenge to maintain a larger section.
The trend toward smaller floor areas reflected the fact new sections in the city were getting smaller, he said.
‘‘Ten years ago section prices were lower and build rates were a lot more affordable. A 178sqm dwelling you’re talking about now on a smaller section probably ends up costing more than a bigger home did 10 years earlier.’’
Harcourts Hamilton general manager Brian King expects demand for townhouses and multi-unit homes to increase.
Townhouse developments near the city are popular with professional couples whereas older people and families favour ones in the suburbs.
‘‘These townhouse builds are not going to stop because the market is there for it.
‘‘You might see a bit of a change in that people might require a little bit extra in them but at the moment the market is certainly there,’’ King said.
There is also strong demand for more apartments in the central city.
‘‘The apartment blocks that you see in Auckland City, multistorey with parking underneath and all the bells and whistles, this city is screaming out for it.’’