Booming Market Brings Surprises

Published on: 2015-07-13

House sales in Hamilton soared to 396 properties sold during June making it the strongest month since November 2006. 

Days on market fell to 29 days. Around 290 new properties appeared on realestate.co.nz during the month. However, by the end of June the site only listed 544 properties available for sale in Hamilton from 642 at the beginning of June. By mid-July this number had fallen below 500 properties. 

With the number available for sale crashing to critically low levels prices are under severe upward pressure. Nowhere has this been more evident than in auction rooms. Competition for properties has bidders competing fiercely and quite often surprising even the most optimistic salesperson on the upside.