Published on: 2014-11-18
Census 2013 Uncovers Hamilton Real Estate Opportunity
Census 2013 data is uncovering all sorts of interesting facts as Hamilton matures into a leading metropolitan centre.Three key stats should be of particular interest to property investors.
1) The median age of the city’s population: At 32.2 years old, the population's age is significantly younger than other metropolitan markets, and well below the 38 years of the rest of the country.
2) The percentage of people who own their own property: This now sits at 57.2, compared with the rest of the nation’s 64.8. Since the city's population is younger, there remains a large cohort (sub-set) yet to enter the house-buying population, which has significant implications for Hamilton real estate in the near-future. Invariably the increase in demand will place pressure on the city’s housing stock and related prices.
3) The median rent in the city: At $290 per week, this is above New Zealand’s median rent - but the median house price in Hamilton is still significantly lower than the New Zealand median house price. This implies the city is a better place to invest based on the yield-return. Economics only gives so many clues before everyone begins to understand them and the oportunity fades (or is extinguished altogether!).