But whether Hamilton house prices are affordable depends on who you ask.
RICKY WILSON/STUFF
Housing Minister Megan Woods announces $1b funding to speed up housing development. Video first published in June 2021.
“If you ask first-home buyers they’d say definitely not,” Bayleys Hamilton branch manager Mike Gascoigne said.
“In terms of first-home buyers, it’s getting to the stage where it’s quite hard for these people to get into the market unless you’ve got family helping you out.”
Hamilton’s average property value now sits at $801,919 – a rise of 110 per cent since June 2015 ($381,793). And the time required to save a deposit for a Hamilton property is now 8.9 years, up from 6.7 years (the average for 2004-20), according to analysis by CoreLogic.