News

Review of the housing market in Christchurch for the third quarter of 2012

By Tony McPherson

The residential property market is now in to the final quarter for 2012. Reviewing the 3rd quarter for 2012, sales volumes have plateaued from a strong winter market. The main reason for this is the lack of properties available for sale on the market.

Demand remains strong with multi interest on many house sales. Sale prices set a record median high in August 2012 of $371,600 but have eased back in the September 2012 statistics.

Insurance availability for residential property is continuing to ease with new build insurance packages now available via several banks.  The first of insurance companies have recently announced new insurance cover for existing properties but this will be on a case by case basis with conditions.  There are issues continuing with insurance for properties pre 1950s but again this is a case by case situation.

The past quarter has finally seen a gradual increase in momentum for the greater Christchurch rebuild.  The July announcement of the Christchurch Central Recovery Plan is bold and has been well received.

Housing construction is commencing on the many subdivisions in and around Christchurch.  Residential investor interest is also returning to the Christchurch market.  Rentals continue to be in short supply.

In an uncertain world, Christchurch is becoming an extremely attractive location.

Up to Date

Latest News

  • What Makes a Good Property Manager: Five Things to Look For

    Saying the title ‘Property Manager’ out loud often raises eyebrows amongst vexed renters. Landlords who have had bad experiences may boo and hiss, too. The audience from which you’ll hear the nicest things said about property managers is one full of landlords who have been down the stressful road of … Read more

    Read Full Post

  • How to Prevent Fire in the Home

    House fires can turn from a small flame into a burning inferno in less than 30 seconds. As with many things, prevention is key when it comes to reducing the risk of fire in rental properties and family homes alike. It’s of the utmost importance for landlords and property managers … Read more

    Read Full Post