Articles posted in category: News

Published on: 2020-09-17

Vendors risk low return on home investment in white hot real estate market

While Hamilton’s housing market is booming, Lodge Real Estate Managing Director Jeremy O’Rourke says some vendors are still not getting the best price possible for their property investment. “Our local housing market is white hot. Stocks are low and demand is high, which means offers from buyers are coming in very quickly on quality properties. “In this sort of market it is tempting for vendors to take the first offer that meets their expectations. But a quick sale isn’t… Read more

Hamilton real estate industry experiencing severe shortage of housing stock
Published on: 2020-08-18

Hamilton real estate industry experiencing severe shortage of housing stock

Lodge Real Estate’s managing director Jeremy O’Rourke, says that while activity in the housing market continues to flourish, the industry is being held back by a shortage of new listings and rental stock. “We continue to see multiple offers on properties, and filled an entire auction room of 60 people this week with buyers for just one property, followed by eight other busy auctions. “This extreme buyer competition is keeping prices steady and strong, with first home… Read more

LVR restriction changes result in relaxed lending criteria for investors
Published on: 2020-07-10

LVR restriction changes result in relaxed lending criteria for investors

Lodge Realty asked Jordan Cameron, mortgage broker (Total Mortgages), to provide an update on the residential home loan market, with particular emphasis on how the Reserve Bank’s lower loan-to-value ratio (LVR) restrictions are impacting activity: “The softening of LVR rules haven’t filtered through to retail banks for first home owners. “In fact, in many instances, banks have tightened their uncommitted monthly income requirements (the borrower’s disposable income),… Read more

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

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