Evident confidence is returning to the both the local and city-wide Christchurch market and it would be fair to say that the north-west of the city is continuing to experience high demand. This is underpinned by a city-wide shortage of property in most areas and consequently we are seeing evidence of an upward trend in property values.
Sales remain steady in the eastern suburbs and this month to date 60% of our sales in the Parklands office have been in the east of the city – long may that continue! Local sales include a good cross-section of TC2 & 3 rated properties and our latest in-house stats indicate that 32% were categorised TC3, so yes we have the skills and procedures in place to help most buyers and sellers get across the line.
National sale prices increase
Nationally sales values are on the increase – year to date to the end of July values have risen by an impressive 5.1%. This is a welcome trend in a lot of centres around the country where the property market has been subdued.
For the last quarter the average “days on the market” for properties in the north east of the city including Burwood, Queenspark, Parklands, North Beach and North shore has averaged 27 days.
We continue to have good success selling “damaged as is” homes and recently we sold 41 Forest Drive for $303,000 with approx 40 parties inspecting the property, good numbers attending the auction and strong competition of 46 bids! Understandably the seller was very happy with the result.
With snippets of spring on the horizon it appears that the property market is coming alive, with people unbattening the hatches and keen to get their immediate housing goals sorted by Christmas. Here’s to a week of heightened enquiry and many sold signs!