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.
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.
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!