Canterbury market catches its breath

Changing cityscape: a newly constructed office/retail building at the Victoria-Montreal-Salisbury intersection in central Christchurch. Photo from

Changing cityscape: a newly constructed office/retail building at the Victoria-Montreal-Salisbury intersection in central Christchurch. Photo from

One does need to be a rocket scientist (and I’m certainly not one!) to appreciate that Canterbury has and will continue to have a flush economy for some time yet. A citywide rebuild underpinned by a $40+ billion price tag makes reasonably simple economics.

Driven by the key components of the above, combined with positive net migration and an overall citywide housing shortage, it is my opinion that the local real estate market will generally remain in good health over the short to medium term, even with the prospect of rising interest rates.

That aside, it is inevitable that even within such buoyant times there will be periods of hesitation and flatness for whatever reason. Sometimes the market simply needs to “catch a breath” – right now is one of those moments. Here at Harcourts Gold we run a weekly focus meeting that is attended by between 35-40 high performing salespeople. Meeting and rubbing shoulders with those who live and breathe the vibe of the market is invaluable and allows us to analyse, strategize and tweak our approach.

It has been noted that enquiry levels over recent weeks have softened, numbers attending open homes have dropped off and generally the marketplace is more tempered. The bottom line for home owners is that there may not be multiple interested parties jostling for their home and prices paid may be a little more conservative than those of the rampant market that we have become accustomed to/taken for granted.

Some food for thought and just wanting to keep you abreast of what’s happening out there.

Enjoy your week and may the new financial year provide for you more exciting opportunities and challenges…

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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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