Hamilton market heating up: Agency

Lodge Real Estate managing director Jeremy O'Roukre said:  "October home sales were up 27% on September. All Hamilton real estate agencies combined sold a total of 249 homes in October - a good jump from 196 sold in September."

He said the lift was being seen across all suburbs and price ranges.  "We’ve had improved enquiry and several sales in the top end of the market, while lower end sales are also strong. And, while in previous months’ price gains were made in isolated suburbs such as Hamilton East and Hillcrest, there is now pricing pressure building across the board in most Hamilton suburbs during October."

The number of houses available for sale in Hamilton city by Lodge increased slightly to 955 in October, up from 945 in September.

It follows data released from Quotable Value, which showed values up 1.9% over the past three months and 5.7% over the past year. As a result, values are now 1.1% above the previous market peak of late 2007.

QV's research director, Jonno Ingerson, said there had been a late spring surge in activity but a lack of listings was driving prices up.