Hamilton’s average property values have broken into the $600,000s in 2020, increasing 5.8 per cent on the previous year.
The city’s average property value is now $604,034, results released from CoreLogic QV December House Price Index shows.
That’s over $232,000 more than the city’s average values five years ago, which were sitting at $371,819.
Goodall said Hamilton’s property values would continue to grow at the 5 per cent mark in the first half of 2020.
“When we look to the future I think we are looking at fundamentals: interest rates are remaining low, the economy’s looking pretty good and unemployment is low, but it will be interesting to see what affect the general election will have on the housing market in the second half of the year.”
Values in Hamilton are still going up due to lack of stock pushing up competition on properties for sale, Goodall said.
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