Hamilton house prices and sales volumes have continued to surpass predictions for how the residential property market would perform post-COVID with Hamilton’s market achieving 260 sales for June and a new record median sale price of $660,000 up 18.9% on June 2019.
Many new homes to the market are selling within days of being advertised whilst buyers in competition resulting in multi offers is becoming the new normal.
Open homes continue to see an array of buyers from first home buyers to investors with motivation to purchase high with current lending rates at record lows.
Bringing new homes to the market continues to be challenging with the number of homes sold above the number of new listings which will continue to put pressure on the median house price and days to sell which reduced further during June to 31.
The current market indicators for the residential property market is for the current momentum post-COVID to continue with the market once again swinging towards a sellers’ market again heading towards spring.