In reviewing the residential sales for Canterbury in the 2nd Quarter of 2011, April and May showed a good increase in activity and sales post February and March. The aftershock on 13th June 2011 saw sales volume figures for June 2011 decline, unlike the periods following September 2010 and February 2011, this was less significant.
When peeling back the sales statistics we still have two distinct markets in the City, plus the outer districts of Selwyn and Waimakariri to illustrate this.
Number of House Sales June 2011 June 2010
Hill, Central & Eastern Suburbs 87 231
North & Western Suburbs 175 242
Selwyn Districts 36 40
Waimakariri 79 59
The sales market activity increased significantly following the Government’s announcement on 23rd June to purchase Red Zone residential properties. This Government decision has given 5000 people the opportunity make future housing decisions.
The owners of Red Zone residential properties are considering future housing options, this is evidenced by increased website inquiry, greater open home attendance and subsequent written sales.
The finalisation of assessments in the orange and white zones will create a steady stream of people who will be able to also make decisions.
Demand for homes in the North and West of Christchurch is putting pressure on supply. New properties coming to the market are attracting strong interest.
Nearly two years after its launch, the coalition government’s failing KiwiBuild initiative has received a reboot that will see the lofty target of 100,000 homes built in ten years abandoned. Today, we’re going to look at what the reboot involves and what it means for New Zealand’s housing market. … Read more
Landlords are being taken to court by their tenants for failing to meet the new insulation regulations introduced in July. One such case sadly involved a Bay of Plenty family whose young child suffered health issues while living in their rental property, which wasn’t insulated to new standards. Why … Read more
Market Comment July/August 2011
In reviewing the residential sales for Canterbury in the 2nd Quarter of 2011, April and May showed a good increase in activity and sales post February and March. The aftershock on 13th June 2011 saw sales volume figures for June 2011 decline, unlike the periods following September 2010 and February 2011, this was less significant.
When peeling back the sales statistics we still have two distinct markets in the City, plus the outer districts of Selwyn and Waimakariri to illustrate this.
Number of House Sales June 2011 June 2010
Hill, Central & Eastern Suburbs 87 231
North & Western Suburbs 175 242
Selwyn Districts 36 40
Waimakariri 79 59
The sales market activity increased significantly following the Government’s announcement on 23rd June to purchase Red Zone residential properties. This Government decision has given 5000 people the opportunity make future housing decisions.
The owners of Red Zone residential properties are considering future housing options, this is evidenced by increased website inquiry, greater open home attendance and subsequent written sales.
The finalisation of assessments in the orange and white zones will create a steady stream of people who will be able to also make decisions.
Demand for homes in the North and West of Christchurch is putting pressure on supply. New properties coming to the market are attracting strong interest.
Tony McPherson
Director
Ray White AJ McPherson & Associates Ltd
Licensed (REAA 2008)
Latest News
Government Hits Reset Button on KiwiBuild
Nearly two years after its launch, the coalition government’s failing KiwiBuild initiative has received a reboot that will see the lofty target of 100,000 homes built in ten years abandoned. Today, we’re going to look at what the reboot involves and what it means for New Zealand’s housing market. … Read more
Read FullPost
Landlords Fined for Breaching New Insulation Laws
Landlords are being taken to court by their tenants for failing to meet the new insulation regulations introduced in July. One such case sadly involved a Bay of Plenty family whose young child suffered health issues while living in their rental property, which wasn’t insulated to new standards. Why … Read more
Read FullPost