Hamilton real estate has enjoyed a good run with 1336 sales to the end of May – a 3.5% increase / 45 sales compared to the same period last year. Prices also increased with the median sale price up 2.4% to $533,400 year on year.
Increased sales and higher buyer demand resulted in the number of properties for sale depleted over the past few weeks. This brought fantastic results with multiple offers and lively bidding in the auction rooms.
Winter is an excellent time to sell with strong buyer demand competing for fewer available properties for sale. Get ahead of the spring rush and get ‘SOLD’ before the competition arrives.
The local economy continues to thrive, but proposed government policy changes may have an uncertain impact on the market. Restrictions on foreign purchases are likely to come into force later this year, the ‘bright line’ extension now requires investors to retain a property for five years if they want to avoid capital gains taxes and the ability to claim tax deductions on rental property losses will be phased out from 2019. These changes – combined with recent falling mortgage rates and the Reserve Bank easing its loan-to-value (LVR) restrictions – urged buyers to purchase before these changes take effect.
We have buyers ready for your property. If you, your friends or family consider a move in the coming months, give me a call for an obligation-free appraisal of your home or any real estate advice. I am always grateful of the opportunity to assist.
Call Linda 0n 022 64 50588 today! I’m never too busy for your call….