Hamilton house sales in November were are up almost 20 per cent on same time last year - and homes are spending less time on the market.
Latest figures from the Real Estate Institute show 267 homes in Hamilton sold last month, compared to 216 in November 2011.
Sales in the The Waikato/Bay of Plenty region jumped by a similar percentage, from 804 in November 2011 to 1021 last month.
The median time to sell a home over the last decade has been 42 days.
Hamilton has fallen from 34 days in October to just 30 days in November. The national median was 33 days in November.
Hamilton's median house price for November was $334,000, slightly down on October’s median price of $338,000. REINZ reported that the national median house price for November hit a new record of $383,250 the median price for the region was $320,000.
Lodge Real Estate managing director Jeremy O’Rourke said if the number of sales for the first eleven months of 2012 were counted, the increase was 25 per cent on the same period in 2011.
“Interesting enough, stocks are also rising, which is providing good choice for home buyers. We haven’t seen upward pressure on house prices just yet, but we are seeing signs that higher prices could be on the cards for the first half of 2013.”
Mr O’Rourke said demand for sections was high with developments on the city’s north and west selling well.
- Waikato Times