News

Market Update – Student Accommodation

ByLiam O'Boyle

McPherson Property Management where pleased with the initial response to leasing and re letting of student properties for the 2012 year.  Over 90% of these properties were let in a relatively quick period against University of Canterbury projected student roll declines of over 1500. The inquiry for the remaining student properties is now slow when compared with the wider residential rental market.  Properties available in the university area currently number over 160 out of only 850 available on Trade me in Christchurch.

Demand, especially for family homes in the least earthquake affected areas is strong and rents are increasing for these properties.

Population trends are difficult to gauge with some of the headlines in the media at times misleading, with % population drops reported in the city not taking into account the redistribution of people over greater Christchurch.

The difficulty of obtaining new insurance continues to keep the rebuild phase at a low level, but the enormous de – construction continues, with the high rise buildings a focus.

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