Hamilton City is now worth $44.1 billion. From the last revaluation in 2015, the total capital value of the city has increased by approximately 29 per cent, and the land value has increased by 58 per cent.
For residential property, the average house value (capital value) excluding chattels has increased 30.3 per cent to $582,800 since the 2015 revaluation. The average section value (land value) has increased 61.1 per cent to $352,400.
Click here to see a breakdown of the changes across the city
Over the last few years, Hamilton has experienced a strong period of residential property sales, and the number of new dwellings consented.
Having increased in 2016, the property market levelled off somewhat in 2017, and has been bouyant through 2018.
Standard residential dwellings continue to be built and there has been a surge in the construction of duplex units and townhouses, as allowed for under the District Plan. Demand for vacant land and infill opportunities has been strong, particularly where there is development potential.
The industrial sector has been driven by both strong occupier and buyer demand, with Hamilton seen as a good growth area, with a shortage of supply and few vacancies. Vacant industrial land land has readily sold with a steady rise in land values being achieved.