Hamilton's real estate market hot with Auckland buyers

14th Mar 2016, 3:16pm

A combination of hungry Auckland buyers and historically low interest rates is keeping the Hamilton residential property market burning hot.

QV released figures last week showing that Hamilton property prices have increased on average 20.7 per cent - 23.3 per cent in the last 12 months.

The big question is, will it continue? And what's happening in the market right now?

Shaun Cosgrave was quoted on Hamilton News/NZ Herald website:

"I personally feel there is still going to be growth this year. The fact that the OCR has dropped, and may potentially drop further, means that money has never been so cheap to borrow. I think the overall effect is that the market will keep going, especially because lower interest rates make real estate investment more attractive and more likely to have positive cashflow," Cosgrave said.

 

Cosgrave said he is finding multi-unit properties are particularly in short supply.

"I've got lots of buyers for multi-unit multi-income properties, and not much stock. Two-by-two units, or two-by-four units - anything with multiple incomes."

Collins pointed to a very short supply of properties in the $650,000-$800,000 bracket in the north-eastern suburbs, and mentioned, "There is high consciousness from buyers about school zoning - that is becoming more and more important for people."

Read the full article on the Hamilton News/NZ Herald website

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