Daniel Hopper

How does the Hamilton market compare now to two years after the last boom?

This is part 2 of my video series on Hamilton's growth.  Why is Hamilton set to continue to grow?

How does the market compare now (approx. 2 years after the Reserve Bank introduced the LVRs to stop the market booming) versus 2 years after the market ‘crashed’ 10 odd years ago??  🤔


👉CURRENTLY (2 years after 2015/2016 boom) around 650 – 700.
👉2009/10 (2 years after previous boom) around 1150, increasing to approx. 1400 a year later.

CURRENTLY: sales around 250-300
👉2009/10: sales around 200

A far higher proportion of the stock is selling now. Around 40% of stock selling monthly vs 15%

👉CURRENTLY: Median in July was $530k (562 previous month), July 2016 it was $510k - 3.9% increase.
👉September 2009 it was $319k, September 2007 it was $365k - 12.6% DECREASE

👍Over the past 12 months, Hamilton's AVERAGE price has increased by 3.3% 

After the last boom, prices decreased!  This time they've increased.

This is at a time where the media is reporting prices falling elsewhere – the latest House Price Index suggests that prices nationwide fell 1.6 per cent over the three months to August. This included a reduction of 0.4% in Auckland.