The Real Hamilton Real Estate News….
Next time you hear self interested Real Estate commentators talking the Hamilton Market up – remember that they have 6-8 Real Estate offices full on hungry Salespeople all looking to believe in New Zealand’s great Real Estate boom.
The truth is, it was and is a myth.
Sure, as we now see, the market had a false lift in 2013, but the Reserve Bank quickly turned that recovering market off by increasing interest rates and applying loan to value ratios (LVR) on mortgages
Yes, everybody has a job rebuilding Christchurch and Auckland is buoyed by immigration and returning Kiwi’s – but in the regions, recession is quickly setting in and any recovery is long gone.
Why do I talk this way?!
July’s result of 201 house sales compared with 252 (2013), 207 (2012) and 204 (2011), this a 4 year low.
How about this for a wake up call – in the early to mid 1990’s, sales were 241 (1992), 246 (1993), 299 (1994), 294 (1995). Now, 20 years later with some 10,000 more homes in the city, we can only manage sale levels less than those of 20 years ago.
Is there a bright side?
Spring is on our doorstep, the elections will be over in time for us to do some business pre-Christmas, unless Kim Dotcom becomes Prime Minister and if that happens we will all have a merry old time.