Tag Archives: Christchurch Housing Market predictions

Christchurch Real Estate, new zealand real estate

Christchurch Housing Market Drives Impressive Growth in Building Consents

person By Hadar alarm 10th Aug, 2021
Christchurch Housing Market

Insatiable demand from investors and homebuyers has prompted the development of numerous new homes in Christchurch. The city has issued building consents for as many as 2800 new projects hitherto, in the last 12 months. The Christchurch housing market now reflects a 12% year-on-year growth in 2020-21, in this regard.

What’s fueling the growth?

Market experts are quick to note that the go-order on a slew of new residential projects, comes down to three notable factors:

  • Government diktat for interest deduction from property investors
  • Demand for a new property with median housing prices entering a cool-off period
  • Confidence in the market to continuously produce new, value-for-money housing

The market should be even stronger by the time the recently consented new listings are complete, as per Christchurch housing market predictions from the builders themselves.

What’s changed in the Christchurch housing market in FY2021 Q2?

The FY2021 Q1 was quite a lackluster affair for the Christchurch realty market in terms of new housing.  The ‘winter cool-off’ period, teamed with a shortage of new listings slowed activity in the realty market. Sales were down as the residential value growth was down by 3.7% in April, 2.5% in May, and 1.9% in June. This catalyzed the resale market as buyers and investors were gripped by the Fear-of-Missing-Out.

However, June-end brought along more favorable tidings thanks to the factors cited above. Christchurch housing market updates indicate that the sanction of building consents furthers the recuperating interest in new listing investments/purchases. This also clears apprehension in the new governmental regulations.

Christchurch housing market predictions from the specialists also confirm that the median prices are here to stay after a 25.8% annual increase. The new median of $651,914 is not detracting consumers in terms of affordability, at all. If anything, the new building consents have bolstered demand for more, new listings.

Christchurch Real Estate, new zealand real estate

Christchurch Housing Market – Key Updates You Should Know About

person By Hadar alarm 28th Jul, 2021
Christchurch Housing Market

Christchurch has always been touted as one of the most affordable housing markets in NZ. But, that is definitely changing, as the region has tasted its fair share of million-dollar-plus residential asset sales in this financial year.  Like everywhere else in NZ, the median house price in the Christchurch housing market has jumped reaching a median price of $541,000.

The high demand and low supply of premium-grade home property, coupled with low interest rates also, has resulted in no less than a hefty 20% since the last year. Experts and agents have noted alike, that this marks Christchurch’s entry into the multi-million home sales club, in contrast to its demand for producing affordable, premium-class homes.

Christchurch housing market updates

For long, Christchurch invited buyers and investors with open arms till now with its affordable prices. However, now the quality housing stock and bottlenecked supply have helped the housing market step up and maintain par with the rest of the regions. Christchurch housing market predictions by bonafide brokerage agencies also refer to another contributing factor to the jacked-up median prices- the exodus of buyers from regions like Wellington, Auckland, and even those returning from overseas.

Christchurch housing market updates

Nowadays, average three-bedroom, single garage cross leases in south Christchurch are going for $100,000 above their 2019 value. Make no mistake, though, for outer Christchurch still presents us with affordable land and house packages for prices closer to the median range. But, that median as mentioned above has well-appreciated past its 2019-2020 value by 20-25%!

Christchurch Housing Market climbs the charts

The Christchurch residential property market has entered the multi-million dollar club with pomp. While quality housing is still available in localities such as Halswell and Hoon Hay- if you are willing to shell out to the tune of the new median price- suburbs such as Fendalton and the Clearwater golf resort area are being sold at $6 million. School districts such as Strowan, Cashmere, and Somerfield, are also exhibiting massive price growth, with buyers pouring interest into $4m homes. The Christchurch housing market updates from brokerage agencies point towards a continuing demand for median-priced housing from both first-time homebuyers and investors.

Christchurch housing market predictions

Given the demand-supply disproportion, even a three-bedroom, one-bathroom weatherboard home with a backyard in north-Christchurch’s Belfast, is selling for a $200,0000 increment over its usual RV. Quality four-bedroom, villa homes with garden space in central Christchurch are also reflecting this $200,000 hike over the erstwhile RV.  The central city obviously costs you more for quality housing, but median-priced houses are available there as well if you are looking at the right places.

As per Christchurch housing market predictions, buyer competitiveness is at an all-time high, if not at the same level as regions, such as Auckland. But, even though the region has broken into the upper-echelon, with million-dollar sales, we can still fetch you a premium-grade home at a price tag closer to the median price, in Christchurch.