Waikato median house prices rose 17.1% in June from a year ago. Prices rose from the $600,000 record high in May to a new record high of $615,000 in June. Sales volumes rose 14.0% on a year ago.
Hamilton City median house prices are up 18.9% on a year ago, a lift of 2.0% on last month. Prices rose to a new high of $660,000 from $647,000 last month.
The National median house price rose 9.2% to $639,000.
Clearly a far cry from the predictions of a 10-15% drop in house prices.
“With thousands of New Zealanders returning home as a result of New Zealand’s limited cases of COVID-19, many of these individuals are looking to purchase property for their family to live in which is also likely to have bolstered June’s sales volumes,” points out Bindi Norwell of REINZ.
The Waikato market saw more activity from first home buyers and investors and the REINZ Regional Manager, Neville Falconer believes “It is now the expectation that the majority of new listings will attract multi offers due to demand being much higher than supply.”
Look out for our new release on Wednesday night. We have seven new 2-bedroom townhouses on Hamilton’s CBD fringe being released. This will be our last new release for several months as we wait for new consents to grind through council. It can easily take 6 months to consent a new development in Hamilton these days.
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