Canterbury property values have eased back but there’s still confidence in the local market. The Trade Me Price Index suggests the average sale price for Apartments over the last three months rose 21 percent. The Price Index calculation ignores all sales with values under 10 percent and 90 percent.
Units have also increased in value by double digits with an average increase of 13 percent.
Other types of properties have average sale price increases in single digits apart from larger homes with five plus bedrooms, they have dropped in value over the past three months.
Canterbury property reached an average sales price increase of 12.3 percent back in September 2014 and at that level it was comparable with Auckland. However the triggers for it were not the same and now with the supply almost meeting demand the Canterbury property market is more in line with Wellington’s.
Matt Power of Property Experts says there’s a lot going on in the property market. Properties are changing hands and good deals are being done. It’s a healthy market for all types of buyer. The affordability of property attracts the first home buyer and the good rental yield attracts the investor. Large or mixed families are doing really well with the larger homes too.
While all the focus is on the Auckland property market Canterbury and notably Christchurch are quiet achievers.
This blog article was written for PropertyBlogs by Mobilize Mail.