Upward Pressure on Property Prices

Twelve months ago I remember suggesting that we would soon see an annual increase in Canterbury property values of at least 10 per cent, so it with no surprise to read on the front page of Saturday’s Press that local property values have increased by 12 per cent over the last year.

It would be fair to say that locally the overall supply and demand of housing is underpinning this exponential growth. Combine this with a local economy that is currently experiencing a huge injection of capital as the rebuild of the city progresses, it is not hard to appreciate the upward pressure this creates on the local housing market. Personally I think the writing is on the wall and these clear indicators reflect the reality and intensity of our current micro economy here in Canterbury. How long this will continue is difficult to predict, however like it or not all the indicators are pointing to a sustained upward movement in property values for some time yet.

While it is important that we do not unnecessarily over-hype the marketplace it is a reality that we are confronted with, given a growing population and increased demand for housing. Let’s face it – every new employee that moves to Christchurch has to sleep somewhere.

Good result for first auction of the year
Last Thursday saw the first seven of the Gold franchise auctions offered for the year. With all seven selling under the hammer plus 150 people in attendance this clearly indicated the buying public’s fervour of securing property in the New Year. The McFaddens Road property I marketed enjoyed excellent response with open homes well patronized plus a consistent stream of enquiries. While there was competitive bidding on the day, my encouragement to purchasers is to never be put off by large numbers attending open homes. Clearly, as the case was here, there was plenty of lookers but only a few participants!

The buying public is fast learning to appreciate the transparency of auction and accept that it provides fair and equal opportunity to purchase property.

Enjoy the week and embrace the positive vibe of a city in repair.

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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.

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