Hamilton property market?

[Rosco]

Lyon Street in Frankton is a good area and good rental return. I have great tenants in Lyon Street and other areas of Frankton.

Sorry can't see bootz1 post that you have quoted. But Ford and Lyon st sound like townhouses.

With townhouses in Hamilton just make sure they aren't overpriced, and that the rent is fair.

Some are advertised as rent by room that probably isn't sustainable.

Some developers are still selling the townhouses for over $300k , when the market is more like $270k or less, so be careful and do your full research.

Ross

[Damap]

Well who knows where moisture might still be, condensation over time etc.

[rocket]

Recently felt the heat of hamilton market first hand. ..boy its supet hot.

Things are selling with 10-15 offers in 2 days or less & way over the asking price. Auctions are going 80-90k over indicated. Auckland would soon loose its charm...or is already loosing

Lucky I cud secure 2 at good price.

[Wayne]

Well who knows where moisture might still be, condensation over time etc.

I understand the general thrust of the arguement but I think you are clutching at straws.
Frames on a new house get surprisingly wet while being installed - expecially if 2 story - as it takes a while to get the house closed in.
Last house I build it took 2 days with big diesel blower to dry out the frames - particularly the bottom plate which just sits in puddles.

[Frezzinghot]

Moral of the story, build at the start of summer!

[XridProp]

Recently felt the heat of hamilton market first hand. ..boy its supet hot.

Things are selling with 10-15 offers in 2 days or less & way over the asking price. Auctions are going 80-90k over indicated. Auckland would soon loose its charm...or is already loosing

Lucky I cud secure 2 at good price.

Do you mind sharing the details?
What yield and in which areas?

[grip]

Recently felt the heat of hamilton market first hand. ..boy its supet hot.

Things are selling with 10-15 offers in 2 days or less & way over the asking price. Auctions are going 80-90k over indicated. Auckland would soon loose its charm...or is already loosing

Lucky I cud secure 2 at good price.

I'm not sure if you're looking at the same Hamilton the rest of us are, but in my experience the market is still pretty flat. Values have been static and most are still listed with price or by nego, with very few going to auction , and even fewer sold under the hammer.

This from CoreLogic / QV research director recently

Hamilton is not yet showing any sign of following Auckland upwards. Values there have increased by only 3.3% over the past year. This is despite relatively strong sales activity in Hamilton combined with a shortage of listings. You would normally expect this to be pushing up values, especially if the anecdotes of Aucklanders now looking to Hamilton as a more affordable option were true.

https://www.qv.co.nz/resources/news/article?blogId=193

3.3% beats leaving your money in a call account, but far from a boom.
In my experience, properties are still going for quite a few thousand under asking price.
Nevertheless, I still think Hamilton is a good place to buy.

[primal]

Which area did you invested in.

[primal]

Recently felt the heat of hamilton market first hand. ..boy its supet hot.

Things are selling with 10-15 offers in 2 days or less & way over the asking price. Auctions are going 80-90k over indicated. Auckland would soon loose its charm...or is already loosing

Lucky I cud secure 2 at good price.

Which area did you invested in. What do look for when investing that side. Near river there can be floods.

[BigDreamer]

I understand the general thrust of the arguement but I think you are clutching at straws.
Frames on a new house get surprisingly wet while being installed - expecially if 2 story - as it takes a while to get the house closed in.
Last house I build it took 2 days with big diesel blower to dry out the frames - particularly the bottom plate which just sits in puddles.

Wayne, I'm not a builder so my knowledge is almost non-existent. However, I remember seeing the timber frames for the starplus lots when they were first put up as 'pinkish' in colour which I assume is the treatment (?) but after the many months (half a year at least) of being exposed to rain the timber was a very pale brownish colour. That surely can't be good?

[marklowes]

Recently felt the heat of hamilton market first hand. ..boy its supet hot.

Things are selling with 10-15 offers in 2 days or less & way over the asking price. Auctions are going 80-90k over indicated. Auckland would soon loose its charm...or is already loosing

Lucky I cud secure 2 at good price.

I think by the time a place hits the cover of property investor mag you've already missed the boat if trying to get in at a good time and a good price. 140k people in ham? Small stuff and not a lot bigger than a range of other secondary cities around the country. Can see its apeal to small scale auckland investors who like to manage places themselve though, and trend toward work from home could make it more apealing to FHB's locked out of auckland. As we saw in 2005-2007 it doesn't take much to move prices in these smaller cities (20% yoy gains for a few years).

[Wayne]

Wayne, I'm not a builder so my knowledge is almost non-existent. However, I remember seeing the timber frames for the starplus lots when they were first put up as 'pinkish' in colour which I assume is the treatment (?) but after the many months (half a year at least) of being exposed to rain the timber was a very pale brownish colour. That surely can't be good?

A much better reply than damap.
That would be my worry.

[Haydenessa]

Looking to buy our first property / investment in Frankton Hamilton.

We want to invest before heading overseas, our only concern is what demand for rentals is in the Hamilton market.

Can anyone offer some seasoned information - Thanks

[Rosco]

Looking to buy our first property / investment in Frankton Hamilton.

We want to invest before heading overseas, our only concern is what demand for rentals is in the Hamilton market.

Can anyone offer some seasoned information - Thanks

Talk to www.qrm.co.nz, they are property managers in Hamilton and are best placed to discuss the demand for rentals in Hamilton.

My personal opinion, be careful with townhouses and I would prefer a normal, free standing house.

Ross

[Gourav]

I'm not sure if you're looking at the same Hamilton the rest of us are, but in my experience the market is still pretty flat. Values have been static and most are still listed with price or by nego, with very few going to auction , and even fewer sold under the hammer.

This from CoreLogic / QV research director recently
qv.co.nz/resources/news/article?blogId=193

3.3% beats leaving your money in a call account, but far from a boom.
In my experience, properties are still going for quite a few thousand under asking price.
Nevertheless, I still think Hamilton is a good place to buy.

After searching for house in Hamilton from last 5 weeks consecutively and
spending dozen of hours researching Hamilton properties online + comparing
the price of recent sold properties with their asking price.

I would certainly say above report by QV is "BULLSHIT" . Reality on ground is:

1. 40-60 % people coming to open homes and auctions are from Auckland
2. Nice houses (Brick) + great location are getting sold within days and above asking price
3. There is at least 80,000 to 170,000 difference between CV and sold price. Even for shabby old houses :/
4. Most of the Auctions are not much successful . (Rototuna, Flagstaff, Western Heights, St. Andrews and Lake are exception)