The Hamilton residential property market continues its strong recovery. The number of properties sold during January 2012 was up 50% on the same month in 2011. Buyers are displaying improved urgency but continue being price-sensitive. As a result prices remain stable.
Low interest rates, stable prices, and improving sales numbers are among the main factors that are drawing investors back to the market. The accompanying graph, which overlays a property clock onto Hamilton sales data, indicates that the re-emergence of investors could not be timed better. Traditionally the Hamilton market lags the Auckland market by up to 12 months; given the recent improvements in Auckland’s property activity, it would be reasonable to expect Hamilton to follow suit during the year.