Is Hamilton a good choice for property investment?
It's little wonder investors are all in a flurry about Auckland real estate – the latest QV/CoreLogic monthly house price index shows that values in the City of Sails has grown a whopping 14.6 per cent over the past year. But let's be honest, not everyone has the cash in hand to buy in this property hotspot. If you're looking for a cheaper alternative with lots of potential, why not consider property investment in Hamilton?
It's basically impossible to compare any other location to Auckland – it's in a league of its own as far as values are concerned. Hamilton has been a quiet achiever and improvements have been a lot more gradual. The QV Residential Price Movement Index for February shows that home values in Hamilton City increased by 1.7 per cent over the three months to February – and they've risen 3.3 per cent over the past year alone.
The market is showing other signs of improvement, as well. QV Valuer Nicky Harris said there was a lot of sales activity around the city over the January and February period, which could be a sign of good things to come.
"Investors are very active in the market which has led to the lower value end of the market picking up following the lull we saw last year after the LVR restrictions were introduced," Ms Harris said in a
Hamilton's southeast is showing the most promise at moment. Prices have been on the climb over the first part of the year, rising 2.6 per cent since December alone. Homes in the northwest and central suburbs have also seen some great movement, both jumping 2.3 per cent.
While it's not showing the same sort of momentum as its northern cousin, that's not to say investors are at a loss. With values rising readily, there are fantastic opportunities for capital gains – without breaking the bank to secure a house in the first place!
Here's to your financial independence!
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