Christchurch House Market: January Update

Reviewing the REINZ statistics for any of the past few years, one trend becomes obvious; the Christchurch house market is at its busiest February and March. In the case of this year the election dust has finally settled, the sand or sunburn from that holiday is disappearing and the focus on the year ahead now dominates. For many that means buying or selling. We are seeing evidence of this at open homes and on the auction floor.

Although there was a drop in the number of properties sold in Christchurch in December (528 in 2017 compared with 620 the previous year) the median days on the market has reduced to 28 and there was only a marginal increase in the median sale price (up $1,000 year on year). Our open homes are attracting large numbers of prospective buyers driven by many different factors, the low interest rates, a loosening of the LVR and increasing divestment by investors.

The auction sale process is still producing the highest clearance rates and the excitement of our recent Gala Auction was again proof of how well our team manages to deliver great results. The Christchurch house market has matured, and everything suggests that sellers will enjoy good results for well-presented properties.

If you are wanting to discuss your real estate options, please don’t hesitate to contact us today!