Articles posted in category: News

Hamilton house prices and listings skyrocket, buyers show urgency post-lockdown
Published on: 2020-06-16

Hamilton house prices and listings skyrocket, buyers show urgency post-lockdown

Hamilton’s residential property market is heading toward normal, says Lodge Real Estate’s managing director Jeremy O’Rourke. The Real Estate Institute of New Zealand (REINZ) released residential market statistics yesterday showing Hamilton’s median house price has skyrocketed to $645,000 from $636,100 in April and $580,000 in May 2019. The number of house sales in the city was 184 for May, compared to just 34 in April which also points to signs of market recovery. However,… Read more

Lodge Real Estate introduces VR open homes to provide peace of mind for buyers and sellers
Published on: 2020-05-08

Lodge Real Estate introduces VR open homes to provide peace of mind for buyers and sellers

Hamilton-based Lodge Real Estate is using virtual reality (VR) technology to take their open homes online, giving vendors and buyers peace of mind during the COVID-19 pandemic. The news comes on the back of the Government’s announcement that private viewings, by appointment, of homes for sale or rental properties can now take place under Alert Level 3. However, open homes are not allowed. VR is a technological leap for Lodge and for the sector and will help one of the country’s… Read more

Record median house price, busy auction rooms herald strong March ahead in Hamilton
Published on: 2020-03-16

Record median house price, busy auction rooms herald strong March ahead in Hamilton

February was a very strong month for residential property sales in Hamilton. The Real Estate Institute of NZ (REINZ) last week released its monthly figures showing Hamilton’s median has skyrocketed to $644,000 from just $605,000 in January. This is more than $100,000 higher than the February 2019 median of $542,000. Lodge Real Estate Managing Director, Jeremy O’Rourke, says, “The residential property market is very strong in Hamilton and we’ve seen more quality properties… Read more

Coronavirus outbreak has potential to affect Hamilton property market
Published on: 2020-02-19

Coronavirus outbreak has potential to affect Hamilton property market

Lodge Real Estate Managing Director, Jeremy O’Rourke, says if the coronavirus outbreak adversely affects the Waikato economy, the local property market will follow. “There’s a lot of uncertainty at the moment around the coronavirus outbreak and how it may affect our local economy. Hamilton and the surrounding region’s industry is reliant on exports. If we begin to see the coronavirus outbreak impacting on exports and jobs, the public’s confidence will wane. “When… Read more

Duplexes in Hamilton are developer and investor property du jour
Published on: 2019-12-13

Duplexes in Hamilton are developer and investor property du jour

Lodge Real Estate Managing Director Jeremy O’Rourke says one of the developer and investor trends for 2019 has been the rise in demand for duplexes in Hamilton. “This year we have certainly seen a marked increase in the number of duplexes being constructed right across the city. In fact, according to the Hamilton City Council, the number of consents issued for duplexes has risen from just one in 2014 to 139 in 2019. “This is due to the fact that the style of property suits… Read more

Fine Homes Tour raises $118,500 for three charities in 10th anniversary year
Published on: 2019-11-21

Fine Homes Tour raises $118,500 for three charities in 10th anniversary year

Hamilton’s Fine Homes Tour has raised $118,500 for three charities, announced last night at a presentation evening following a successful event held on Friday 8 November. The event, sponsored by Lodge Real Estate, was introduced to Hamilton in 2003 by Christine Couch and Jane Hargood. This year was the 10th anniversary of the biennual event. The three charities receiving a share of the funds raised are the Child Cancer Foundation, Look Good Feel Better and Stroke Foundation Waikato. This… Read more

Hamilton house prices rachet upward as market strengthens
Published on: 2019-11-18

Hamilton house prices rachet upward as market strengthens

Hamilton’s residential property market continues to strengthen and sale prices continue to surprise the city’s agents, sellers and buyers. While Hamilton’s median house price hasn’t hit the $600,000 milestone yet, it is very close with the Real Estate Institute of NZ (REINZ) reporting it was $585,000 for October. Lodge Real Estate Managing Director Jeremy O’Rourke says, “It’s been difficult in recent months to predict the final sale price of many of… Read more

Developers fuelling growth in Hamilton residential sector
Published on: 2019-09-16

Developers fuelling growth in Hamilton residential sector

Lodge Real Estate Managing Director Jeremy O’Rourke says, heightened sales of development property around Hamilton is one factor fuelling residential growth in the city. “Two big properties in Rototuna have recently sold to residential developers, one property for around $9 million and the other for around $6 million. This will serve to continue the rapid trend of Hamilton spreading north. “However, many developers are having to extend their construction horizons as they await… Read more

Drop in OCR could prompt homeowners to trade up
Published on: 2019-08-16

Drop in OCR could prompt homeowners to trade up

Lodge Real Estate Managing Director Jeremy O’Rourke says, the Reserve Bank’s move on 9 August to drop the official cash rate (OCR) could prompt homeowners to trade up to a new home and buyers currently in the market to lift their price thresholds. “The half a percentage point drop in OCR is quite significant for people who are carrying a mortgage. Suddenly, you can carry a slightly bigger mortgage for the same interest cost. “For instance, if you are carrying a $200,000… Read more

Competition in real estate auction rooms in Hamilton heats up
Published on: 2019-07-16

Competition in real estate auction rooms in Hamilton heats up

Lodge Real Estate Managing Director Jeremy O’Rourke says after a brief hiatus in activity for real estate auction rooms in Hamilton, competition is heating up again. “During the first half of the year, investors had pulled back from the residential housing market in Hamilton. And the city’s auction rooms certainly felt this effect. “With fewer buyers in auction rooms, fewer vendors were taking their homes to auction. But over the past month or so we’ve seen those… Read more

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