Population and Housing Stats for Hamilton

Population and Housing Stats for Hamilton5 Jul 2019

I was trawling through some information from the Hamilton City Council recently and came across some really interesting figures around housing. I’ve previously seen a report on rental vacancy rates (historical low) – you can view this report here. Its interesting tracking rental vacancy to property value growth (lower rental vacancy has coincided with growth in the value of housing). Anyway, here are some important numbers that I think speak for themselves:

Population growth in Hamilton: 3,900 (1,500 natural growth and 2,400 net migration) – this is within the Hamilton City boundary only – the wider Waikato Region has a population of 468,880 with growth circa 11,200)
Houses issued with CCC: 1,036
Average number of people per household:2.7

Based on the above, the required number of new homes need last year in Hamilton was 1,444, yet only 1,036 were completed leaving a shortfall of 408 homes (in other words, Hamilton needed to build 40% more homes than it actually achieved)

This combined with the increasing costs of construction (and red tape) and the historically low interest rates, see property prices look set to go in only one direction.