Tag Archives: News

More Good News for TC3 Homeowners

Firth Industries national technical manager John Hambling demonstrates the new foundation system.
Photo: Kirk Hargreaves/The Press

Further to last week’s post on the way forward for TC3 property owners, Liz McDonald in The Weekend Press writes:

House foundations poured on top of the ground that can be re-leveled with the turn of a screw are the newest earthquake fix to appear in Christchurch.

The first foundation to use the new system – intended for rebuilds and repairs on technical category 3 (TC3) sites – has been poured in the suburb of Hoon Hay.

Jon Hambling, national technical manager for Firth Industries, said the system would suit 90 per cent of homes, could be built in a week, and meant a home could be re-leveled in just a few hours if quakes shifted the land.

Instead of piles it involves two poured reinforced concrete slabs, separated by about 25 individual raft jacks which can be adjusted by pulling back carpets. It can be used for both repairs and rebuilds.

I think it is great to see such fresh and creative thinking coming to the fore providing solutions for the future. It would be rather ironic, looking forward, if you were hosting a dinner party following an earthquake – one would be busy texting the guests notifying them that the party will be delayed by an hour while you are waiting for the house to be re-leveled! It all seems too easy really after what most of us have been through over the last two and half years of not living on the level.

Highest research into TC3
One thing about TC3 land is that it indisputably has had the most research done on it over the last two years and probably has more readily available info than any other type of land in the city. In fact I know of a purchaser who purchased a TC3 section for that reason. While he certainly didn’t pay a premium for the site it does make a lot of sense.

I like Gerry Brownlee’s comment, “TC3 is not the bogey some people were making it out to be, dealing with TC3 is not a terminal problem for anyone.” I guess we will be watching this space Gerry!

 

And more good news…
My last week’s auction was on TC3 land and the property sold under the hammer; so that goes to prove that both the buying public and lending institutions have confidence to progress such properties. What’s more is that the property did not have land damage and all the dwelling’s quake repairs had been completed. This is how it should be – normality restored for home and family!

On that positive note, enjoy your week and I trust you too are finding more normality as we move into the “rebuild” phase.

PS – Don’t forget to check out this property at 335 Estuary Road, one of my first “as is where is” sales for the year.

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.

A Big Step Forward

Along with winning the RWC last week we also saw 80 per cent of the remaining 8,096 Christchurch orange-zoned homes go green! This is all great news for us Cantabrians and life is looking a whole like brighter.

Going green
While for a lot of us (myself included), green may have a hint of yellow or blue (Technical Categories 2 or 3), it does mean that we now have some certainty and a way forward. I think the positive reassuring message coming through here is that we can rebuild/repair safe and strong homes on the majority of land throughout the city despite the various soil structures. Psychologically this is a hugely positive step forward for Christchurch and I think we owe grateful thanks for the time and effort put in by the various professionals, CERA, along with local and central government for their commitment and pro-activity in providing this certainty for the people of Christchurch. You can find the relevant material here.

A window of opportunity
With the marketplace being spurred along by the many “cash in hand” red zone purchasers and the news that we now have another 6,430 saleable homes in circulation, I believe there is a real window of opportunity for those looking to sell. In my opinion, between November and Christmas buyers will remain active providing those selling with a high chance of securing a sale before the end of the year – what a Christmas present!

Perfect timing
The bottom line is the timing is right to take action! Here at the Team Griff we are currently taking listings for our Spring/Summner Portfolio so be sure to make contact now and let our experience bring your home a great result.

Griff.net.nz is the place to go to check out relevant property information and also take a look at the selection of properties we are marketing here at the Parklands office.

Take care and we look forward to hearing from you soon.

Three bedrooms for $15,000

Well I thought it was time we all could do with something a bit lighter! This could be just the answer for those of us who want a cheap alternative to shaky Christchurch (or perhaps not). The New Zealand Herald reports:

Lionel Wellington is the proud new owner of one of the country’s cheapest homes.

Just $15,000 has netted him an abandoned three-bedroom weatherboard house in the tiny King Country village of Ohura.

The house was one of 23 properties that the Ruapehu District Council put out for tender last month.

“I am quite pleased,” said the 66-year-old. “I’m not sure what I’m going to do with it yet.”

The septic tank needs fixing, the bathroom and laundry floors need replacing, and it will have to be repainted. But “mostly the house is fairly sound” he said.

“If I spend from now until Christmas, I can get it looking pretty good.”

Back in Christchurch, houses are continuing to sell, with Brian and I seeing our latest listing going under offer in a mere three days with only internet advertising – perhaps a sign of things to come?