Hamilton City Quarterly economic monitor - September 2019

House prices

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Highlights for Hamilton City

  • The average current house value in Hamilton City was up 0.8% in September 2019 compared with a year earlier. Growth underperformed relative to New Zealand, where prices increased by 1.9%.
  • The average current house value was $594,080 in Hamilton City over the September 2019 year. This compares with $692,438 in New Zealand.

National overview

A housing market revival appears to be on the cards in 2020, with subdued prices earlier in 2019 giving way to faster growth in recent months. Over the 12 months to September 2019, prices rose 1.9%pa. Even Auckland prices, which have been in decline in 2019, are showing signs of a possible recovery by the end of the year. We expect that lower interest rates over the last year, the scrapping of the capital gains tax proposal, and the loosening of loan to value ratio restrictions, with the potential for more to come, will see a boost to the housing market over 2020.