Refreshed and sun-tanned
Long summer days, sun-kissed skin, BBQs and falling petrol prices – the perfect ingredients for a classic Kiwi holiday! Most of us (apart from the farmers) have relished these great summer conditions – some saying “this brings back memories of how summer used to be…”
Returning to five new listings, another two prior to the weekend plus the phone ringing and emails pinging means business as usual – the real estate market poised for more of the same. Both potential sellers and prospective purchasers are already actively seeking real estate resolve with typical new fervour.
Following strong capital growth throughout 2015 combined with the Canterbury regions rebuild phase forging ahead it is my professional opinion that the local economy will remain in good heart for some time yet. On the real estate front it is likely that the demand will remain strong, however it is evident that we are seeing more competition, especially so with spec homes in newly establishing subdivisions.
This naturally has a flow on effect throughout the greater market place, while this is likely to bring some tempering on increasing market value, capital growth rates are most likely set to remain on the positive side of the ledger. For those selling, this will mean greater emphasis is needed on quality marketing, effective pricing and attention to detail with regard to presentation. All in all, I believe we can look forward to another active year of real estate trading and steady growth.
Capital growth rates and days to sell
The latest stats for from the real estate institute highlights that capital growth in Christchurch has remained flat over the last two months of 2014 with the median sale price remaining unchanged at $420,000. This equates to an annual capital growth rate for 2014 of 9.16% (REINZ verified). The list to sell period for Christchurch has remained pretty steady throughout 2014, tracking between an average 25 to 30 day period with December’s figures showing 29 days to sell.
Catch the momentum
This new year market provides opportunity for both buyer and seller alike – new and refreshed buyers entering the market place plus fresh stock being launched daily. Today is always the best day to transact real estate! Remember Griff.net.nz for all things real estate.
Take care and talk soon on the street…