Tag Archives: The Press

Exciting new residential opportunities for Christchurch

The proposed Highfield Park Subdivision

The proposed Highfield Park Subdivision
(Source: Stuff.co.nz)

With the onset of two substantial residential developments in the north and north-east of the city – Highfield Park and Prestons – I think as locals we can look forward to the exciting opportunities and the momentum this unprecedented growth will bring with it. It is the obvious space for the city to expand its borders and with the lifestyle Mecca that the east provides, prospective purchasers will need little further enticement. I may have to get used to sharing my mountain bike tracks and the open space that Bottle Lake Forest and the shores of Waimari Beach provide though!

About Prestons:

Prestons is a dynamic new residential subdivision located in the north east of Christchurch, approximately 20 minutes drive from the city centre.

The development, designed to be a sustainable urban village, is 203-hectares in size and will become a residential precinct for over 2,500 houses and 8,000 residents.

About Highfield Park:

One of only a few new developments on the northern side of Christchurch City, the Highfield area will progressively release 2,200 home sites. Our sites will be sold with a focus on complete land and building packages, tailored to your budget.

See also Liz McDonald’s article in The Press: ‘High interest in giant subdivision’.

These are exciting times and it’s great to see growth virtually on our back door step!

Canterbury homes selling fast

Liz McDonald at The Press reports:

Homes in Canterbury and Westland are still the fastest-selling in the country, as buyers compete for properties.

April figures from the Real Estate Institute show homes sold in 27 days on average.

The median price was $353,000, up 10 per cent since April last year, but down from $359,000 in March. In Christchurch, the median price was $375,000, up 8.7 per cent in a year but 2 per cent down from $384,000 in March.

Institute director Tony McPherson said the strong demand from first-home buyers and investors at the lower end of the market continued.

The shortage of houses was leading to some investors buying damaged properties – those that were safe to occupy but uneconomic to repair – as rentals, he said.

This has definitely been my experience. In recent weeks, I have had a number of such properties sell after just a few days on the market.

The number of sales in the city was 583, almost 25 per cent higher than a year ago, while sales were up 16 per cent to 934 across the region. Within Christchurch the highest median price was $656,000 in the hill suburbs, followed by $635,000 for Fendalton-Merivale-Ilam. The cheapest area was $233,500 in Linwood-Bromley-Bexley-Aranui.

It’s important to note that for the month of April, only seven sales were completed in the hill suburbs – thus the median is heavily influenced by the small sample of sales.

My own local area, north-east Christchurch (which encompasses Avondale, Avonside, Burwood and Parklands) had 35 sales for April, with a median sale price of $322,500, compared to a median RV of $316,000.