Hamilton housing 2014 in Review
Published on: 2015-01-20
Reserve bank imposed loan to value ratio restrictions dampened the recovery the market should have experienced during 2014. The number of houses sold per month fell from an average of 245 sales during 2013 to 222 sales per month during 2014. Elections compounded the issues and slowed sales even further during the winter months. However, both events merely delayed the entry of buyers into the market and placed further pressure on rents and the city’s rental accommodation. The danger, as with any intervention in the market, is that buyers return en-mass.
With building consents below historical norms the increased activity may place undue upward pressure on house prices going forward.
From the depths of winter the market emerged with the number of sales growing month on month between July and December providing optimistic impetus for 2015.