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.
Every new tenancy should start with a detailed move-in property condition inspection report. This was the reminder we were given by a recent Tenancy Tribunal decision, which ruled in favour of the tenants because the landlord’s report failed to provide an adequate benchmark of the property condition when the tenancy … Read more
Following the issuing of new tenancy privacy guidelines in May, then their retraction in June, the Office of the Privacy Commissioner (OPC) has consulted with the real estate industry and issued revised tenancy privacy guidelines. Why were the privacy guidelines retracted in June? Back in July we covered the … 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
How to Protect Yourself with a Property Condition Report When Starting a Tenancy
Every new tenancy should start with a detailed move-in property condition inspection report. This was the reminder we were given by a recent Tenancy Tribunal decision, which ruled in favour of the tenants because the landlord’s report failed to provide an adequate benchmark of the property condition when the tenancy … Read more
Read Full Post
Privacy Commissioner Releases Revised Tenancy Privacy Guidelines
Following the issuing of new tenancy privacy guidelines in May, then their retraction in June, the Office of the Privacy Commissioner (OPC) has consulted with the real estate industry and issued revised tenancy privacy guidelines. Why were the privacy guidelines retracted in June? Back in July we covered the … Read more
Read Full Post