Overseas People


PHOTO: CHRISTEL YARDLEY/STUFF – Is the Hamilton property market showing signs of slowing down?

A winter chill could be set to bite Hamilton’s property market with one industry leader saying the first signs of a slow down are in the air.

But Lugton’s Real Estate managing director Simon Lugton’s view isn’t shared by others in the industry with competitors saying there is no reason to think a collapse is on the cards.

Residential sales in April were down slightly on the same period last year but well down on last month’s activity and while Lugton said it’s too early to say definitively, the result shows a cooling.

“There is not a massive amount of property coming on the market,” Lugton said. “There are only 800 homes for sale which is not a huge amount of choice for buyers who are out there so I can see that limiting sales.


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