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Market Update – Sales and Property Management

By Liam O'Boyle

Residential Sales

Activity in the least affected areas is continuing to be strong and it is pleasing to note that an increasing number of properties are coming to the market.  This increased number of properties available for sale is welcomed by potential buyers after the extremely low level of choice in the period from late July through to September. 

Some of the accidental landlords are choosing to sell.  These are property owners who rented their homes rather than sell after the residential property market correction of 2008.

There is anecdotal evidence of prices firming in the least affected areas but this from the lows of 2010. 

Insurance is continuing to be an issue especially with new build dwellings and tenants generally are unable to obtain contents cover.

Residential Rental

Demand is very strong in the least quake affected areas with vacancies at extremely low levels. 

The student properties have in large been re let for 2012, with the better quality properties being leased quickly.  This is a pleasing result in light of the projected drop in the Canterbury University roll of 1500 students for the 2012 year.

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