Big year ahead for Christchurch rebuild

BIG YEAR AHEAD FOR CHRISTCHURCH REBUILDRadio New Zealand reports:

Insurers are on track to settle the vast majority of Canterbury earthquake claims by the end of this year, the Insurance Council says.

Figures released by the council show that nearly $16.7 billion had been paid out by December 2015.

That figure included 139,858 domestic claims, to a total of $7.8 billion – less than half the total.

Insurance Council chief executive Tim Grafton said the figure reflected a 21 percent rise in the settlement rate last year, compared to 2014.

“That’s just absolutely massive in New Zealand history – as we know its been the biggest event this country has ever known in terms of damage.”

He said 5400 major repairs and rebuilds were settled last year.

This has significant flow-on effects for the Christchurch property market. The volume of ‘as is, where is’ listings and appraisals is indicative of the speed at which the major insurers are settling their claims.

Canterbury Employers’ Chamber of Commerce chief executive Peter Townsend said this year would be a pivotal one for Christchurch, with more than half the rebuild completed.

Mr Townsend said about $100 million a week would continue to be spent on reconstruction.
Although he understood the government’s end date for the rebuild was 2026, he believed that was probably overly optimistic.

“There’s still a lot to be done, there’s still a lot to be spent, there’s still a lot of investment going into the housing sector, into the commercial sector and into the key projects the government is underpinning – we’re going to see that play out.”

“I don’t know anywhere in the world where $40 to $45 billion is being tipped into a population of 360,000 to rebuild a city.

I’ve long been positive about the future of our city and am optimistic with what 2016 has in store for our city. Even in our stomping ground of Parklands, SCIRT are busy repairing roads and horizontal infrastructure on a considerable scale. Slightly further afield, the new Marshland School campus has just opened its doors for the 2016 school year. Long may the buzz of a city in regeneration continue!

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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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