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Is Hamilton a good place to buy a home or an investment property?

In this article, you’ll learn all about Hamilton house prices. That includes how quickly they grow and where the most affordable properties are.

It's takes a lot of data crunching. But we here at Opes Partners put these numbers together to help you become as informed as possible. 

And although we help investors buy New Build properties, we know those aren't the right fit for everyone. So this guide is here to help all property buyers.

Do you have a question or comment about the Hamilton property market? Feel free to leave your thoughts in the comment section at the end of the page.

Quick facts
  • The average price of a Hamilton property is $810,325 (CoreLogic, April 2024)
  • Hamilton property prices have been falling. They peaked in November 2021. Prices are currently 14.35% below the peak (REINZ, April 2024)
  • Property prices appear to have bottomed out in May 2023. That was 17.2% down from the peak
  • Over the last 3 months property prices in Hamilton have gone down -1.26%
  • Hamilton property prices increased 6.45% per year (on average) in the 20 years between April 2004 - April 2024 (REINZ)
  • The average rent in Hamilton is $550 per week (Tenancy Services, March 2023)

What's happening to Hamilton house prices?

The average price of a Hamilton property is $810,325 (CoreLogic, April 2024)

Hamilton house prices are down -1.26% over the last three months (REINZ). And they are 1.71% up over the last 12 months.

Hamilton House Prices

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How are Hamilton property prices changing

Hamilton house prices soared after the Covid-19 pandemic began. House prices started out 30% below the eventual peak of the market.

However, after that peak in November 2021, house prices fell 17.2% before bottoming out in May 2023.

Today, Hamilton house prices are down 14.35% compared to their peak. That means prices have risen 3.50% since the bottom of the market.

Hamilton prices compared to the peak of the market

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Where is Hamilton in its property cycle

At the bottom of its property cycle, Hamilton was 13.00% undervalued. But now prices have caught up.

Today, property prices in Hamilton are undervalued by 2.19%.

That suggests there is neither a buying or selling opportunity in Hamilton.

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NZ Property Market Update: February 2024

What is the Hamilton rental market like?

Rents have been steadily increasing in Hamilton. Over the last four years (March 2020 - March 2024) the median rent has gone up $100 a week. That's 5.14% a year (on average).

Over the last 12 months, rents have gone up. They are up 7.84% ($40 a week) year on year.

Which Hamilton suburb's house price grew the fastest?

Which Hamilton suburbs grow in value the fastest? This map lets you find out for yourself. Double click on the map below to zoom in and explore different suburbs.

Each dot represents a different suburb, and the colour of the dot represents how quickly house prices have increased over the past 20+ years.

The redder the area ... the quicker house prices have grown in that suburb.

Do you have a question or comment about the Hamilton property market? Feel free to leave your thoughts in the comment section at the end of the page.

Which Hamilton suburb's have the highest yields?

The country's median gross yield is 2.94%, while the median Hamilton property achieves a gross yield of 3.22%. This means that Hamilton typically achieves a slightly higher yield compared to other areas of the country. However, gross yields vary widely depending on which suburb you choose to investigate.

So, which suburbs in the Hamilton property market have the highest gross rental yields?

Navigate the map below to find the suburbs where houses produce the most cash for their investors. The redder the area ... the higher the yield.

Hamilton Suburb Prices

Hamilton

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Hamilton City is made up of 35 suburbs. The most expensive suburb is Harrowfield, which has an average house value of $1,109,250. While the most affordable suburb is Bader, which has an average house value of $590,900.

Over the last 24 months of all the Hamilton City suburbs (Mar 2022 - Mar 2024), Harrowfield had the fastest-growing house prices at -2.26% per year.

The suburb that grew the slowest over that period was Rototuna North, which grew at a rate of -5.92% per year.

Other property markets to look into

If you found this article useful, then you might also like our analyses on the other property markets in New Zealand. 

You can read all about the Auckland property market, the Wellington property market and the Christchurch property market by clicking any of the links mentioned here.

Write your questions or thoughts in the comments section below.

Opes Partners
Ed solo

Ed McKnight

Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.

Ed, our Resident Economist, is equipped with a GradDipEcon, a GradCertStratMgmt, BMus, and over five years of experience as Opes Partners' economist. His expertise in economics has led him to contribute articles to reputable publications like NZ Property Investor, Informed Investor, OneRoof, Stuff, and Business Desk. You might have also seen him share his insights on television programs such as The Project and Breakfast.

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