Executive Summary Introduction Economy
HOUSING
Subdivision lots consented 1980
5%
ON 2020
Subdivision lots granted, 2021
RO T
Commercial
HAMILTON
54
4
IN FI L
0 L1
People
1980
E
27
Central City
Hamilton City Council - 2021 Hamilton Annual Economic Report
473 NA U T O
CK
Increasing house prices in 2021 appears to have driven increased demand for new infill homes. The median sale price for a home in a greenfield area in 2021 was $940,000 but was $715,000 for an infill home.
OTHER AREAS 26
P E AC O
Infill subdivision consents were less than greenfield in 2019 and 2020 but rebounded to over half of all subdivision lots consented in 2021. Infill subdivision tends to be undertaken on smaller blocks of land and has much greater spread. Greenfield developments are often undertaken by one or two large developers on substantial blocks of land. The largest infill developer in 2021 consented 65 lots across the city.
25
subdivision lots granted
DOWN
Housing
The number of subdivision lots granted for both freehold sections and unit titles remains positive despite being down on 2019 and 2020 consent numbers. The developer with the largest number of subdivision lots consented in 2021 was Northview Capital who consented 409 lots in Peacocke, including 192 residential lots for the Aurora development. Marketing is well underway for Aurora with Jennian Homes promoting sections of 400m2 to 461m2 starting at $550,000. Pragma Homes, the second biggest developer in 2021, consented 141 new subdivision lots, mostly in Rototuna.
