Outside of Auckland Christchurch is the clear winner with property values above the norm in many areas. We’re all used to hearing about the heady values of Auckland properties however Christchurch should also be on our radar.
Christchurch property owners secured an average increase in value of 4.3 percent in October 2014 and 3.7 percent in November 2014. Compare this to Wellington who achieved a average tiny increase in value of .08 percent in October and even less in November. Also according to CoreLogic-QV the average home value for October 2014 in Christchurch was $463,464 and in November $466,814.
There are more new homes coming onto the market in Christchurch though this is not affecting sales suggesting demand may still outstrip supply.
Matt Power of Property Experts has been a buyers agent for many years in Christchurch and he is also a Real Estate Agent with Tall Poppy. Being in quite a unique position Matt appreciates he is witnessing the property market from both sides and says right now it really is a Win, Win for buyers and vendors.
Buyers are getting more choice due to more new homes on the market and properties are selling well so vendors are happy too so it really is a win, win for all.
Christchurch is the city of choice for many New Zealanders and immigrants and the rebuild has progressed well in 2014. It’s a city on the rise and it’s property market is the envy of many other regions around the country.
Written by Mobilize Mail for Property Experts