Hamilton house values lift slowly

Last updated 13:26 11/02/2013

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Hamilton house values are continuing to rise but more at a plod than Auckland's city's canter.

Latest statistics from QV show the average Hamilton house price in January at $341,664, was 3.7 per cent above January last year.

The average value of an Auckland city residential property last month at $723,159 was 11 per cent higher than in January 2012.

Hamilton QV valuer Richard Allen said buyers were now finding it difficult to get an entry level home under $300,000, with $330,000-$340,000 being a more likely price range.

Section prices seemed to be rising due to new developments on the market and a CBD building rate not seen for 10 years, which could be a sign of growing economic confidence, he said.

The average current value of a house in Hamilton though 3.7 per cent up on January last year, is still 7.7 per cent under the 2007 market peak. 

Breaking down Hamilton city into areas, the average house value in Hamilton north east last month was $422,703; central city/north east $322,924; Hamilton south east $317,674; and Hamilton south west $306,860.

The average value of a house in the Thames-Coromandel District Council area was $494,061, said QV.

This was 0.7 per cent up on January last year but 15.6 per cent down on the 2007 market peak.

Waipa's average house value last month was $318,122, 4.5 per cent up on January last year. South Waikato's average house value was $133,427, Waitomo's $146,184 and Taupo's $349,358. Taupo's average value last month was nearly 14 per cent below the 2007 peak.

The average price for a house in the Waikato district last month was $266, 092, a 2.4 per cent increase on January last year, while Matamata-Piako posted a 1.7 per cent increase at $263,846. Hauraki district's average value was $242,899 up 0.3 per cent on January 2012 but nearly 15 per cent less than the 2007 peak average price.

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