Upward Pressure on Values Evident

As per the latest edition of Harcourts MarketWatch for the month of October average sale prices in Christchurch were up a significant 7.1 per cent compared to October 2010. This reflects the pressure on available stock (which is down 14.9 per cent) and the vigor displayed by the current buying public. It is also interesting to note that written sales for the month were up 14.5 per cent clearly indicating that the Christchurch market is moving ahead with leaps and bounds.

Perfect timing
As I have been indicating over recent weeks, with the current buying public so active and the statistics pointing in the right direction, now is the perfect time to make that real estate move – in fact I personally see no reason to hold off until the normally active New Year market. Worth thinking about, I think so?

Where to from here?
Are we heading for another overheated property market here in Christchurch? Is the current demand of earthquake-displaced buyers the beginning of the end for affordable real estate in the city? In my professional opinion, there is little anyone can do to stem the tide of intensity that the simple principle of “supply and demand” creates. I think it is good to see that “the powers at be” are fast tracking the availability of land which inevitably will take some of the heat out of this current building momentum.

Free marketing
I am currently running a promotion of a free upgrade in the Christmas/New Year Bluebook, so do be sure to speak to me on how this could benefit you and your property.

Here’s to another great week and a successful sale if you are on the market!

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About Peter Griffioen

Peter Griffioen - or simply Griff to those who know him - has an established reputation as a high-producing Harcourts Canterbury salesperson. With a focused approach to customer service you can rest assured that you are in good hands, whether it be a relaxed chat about the state of the market or an in-depth discussion regarding your next property transaction. The key advantage of engaging Team Griff’s services is their local knowledge and experience. Currently in this post-seismic era, it is vital to have true professionals working on your behalf, ensuring that you are guided through the process professionally and with a caring approach. The advent of the ‘as is, where is’ market means specialised expertise are required and Team Griff has taken it on themselves to both understand and explain the pros and cons of this now accepted sale/purchase option. For over 26 years the Griff brand has become synonymous with achieving results. Griff now prides himself with his five member team and takes much satisfaction from empowering them to both achieve and reach their own goals. A team with a proven track record placed with the highest ranking Harcourts Million Dollar Club members, exceeding the $275m level. Such accomplishments highlight the team’s exceptional marketing and negotiating skills. Team Griff are recognised as industry leaders for their online presence and regular blog posts of current and relevant real estate information. E-marketing and readily available property specific detailed info means Team Griff’s clients have the edge when it comes to selling their homes, not forgetting purchasers who benefit first hand. A simple Google search says it all – the Griff brand ranking with the most frequent. Griff’s life focus extends beyond business, with quality time and fun being high priorities, while mountain biking, boating and fishing provide that vital time out. His Christian faith is his anchor for daily living, and his community is important to him. For a team approach to optimize the result for your next property transaction, be sure to talk to this award winning team - synonymous with hard work and results! Griff and his trusted team welcome your enquiry today.

2 thoughts on “Upward Pressure on Values Evident

  1. Colin Kelly

    So would these sales be to currently insured owners taking their insurance with them to the purchased house, combined with sellers leaving insurance “with the sale”? Of interest, is the market getting any re insurance, or running on a closed loop of existing insurance policies?

  2. Peter Griffioen Post author

    Hi Colin, sorry for the late reply. Yes, it is effectively a closed loop of existing insurance policies. All major insurers are still not issuing any new policies at this stage until they can be satisfied that the risk of future major aftershocks can be minimised (goodness knows how long that’ll be!). The vast majority of sales in Canterbury at the moment involve purchasers working with their insurers to transfer their existing policies over to their new property.

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