There is no doubt that Spring has come early to the Property Market in our city, with the release of the REINZ Sales figures for August.
Sales volumes have leapt up yet again from the low levels experienced in July. August showed that there were 539 Property Sales in the City in August, up by a massive 21.6% over the previous month. At the same time, there was a small recorded lift in the Median Sale Price to $440,000.00. This lift in volume has occurred slightly earlier than normal but was expected (probably more so in actual September). The reason as I said is simply because Spring has come early. The good weather we have been experiencing and warm temperatures have brought the sellers and more buyers into the market a little earlier than expected. Our Christchurch market remains solid and steady with prices staying consistently steady as well. The days on market have remained constant at a 37 day average for a few months now. As a consequence, writing this report can almost be repetitive. The lift in the median sale price, I think is a reflection of more sales activity in the top and the market rather than any real price movement, as long-term results show the median sale price has for many months now consistently hovered in the $440,000 plus or minus $5000 range. Here at Harcourts we are seeing a lot more new stock coming into the Market and as we have said many times these has always been a good base of potential buyers waiting in the wings over winter for freshly listed property to be available, and its obvious those buyers are ready to purchase well priced new listings. Our industry will have some new legislation changes to grapple with over the coming months with the introduction of changes to the Overseas Investments Act essentially coming into play mid-October – in layman’s terms that is the ban on foreign buyers. Then from the 1st January we will have legislation around Anti-Money Laundering that we will also need to comply with, requiring us to verify the identity of our vendor clients. I can only stress if you are in any part of the Christchurch Real Estate Market you need to be working with the best professionally trained and most current Real Estate Company to ensure there are no legislation issues, regardless of whether you are a buyer or seller. I also know that that Company is Harcourts – Give us a call! We know Christchurch, We know our Market and We Sell most of it! Its our job to look after you and help you get the sale you want. Jim Davis - Harcourts South Island Regional Manager While listings in the city are low even after accounting for the winter doldrums, surrounding areas are picking up the slack with activity spurred on by lower prices, lifestyle options and roading upgrades that are set to further improve prospects for commuting.
Rising alongside these markets is a Harcourts franchise that has grown from its Rangiora roots to double in size over the past three years. Now, Harcourts Four Seasons is adding an eighth office, in Lincoln, and from this month will have 100 salespeople in a sweeping territory that runs from Hanmer Springs to Rakaia. The company was set up as Twiss-Keir Realty in the mid-1980s but earlier this year moved to new branding with the takeover of the Harcourts Four Seasons offices in Hornby and Rolleston. Co-owner James Twiss says about 40 per cent of business is still in Christchurch, where they have three branches, but the energy and growth prospects of the market are a step beyond the urban fringe. The area around Woodend is looking like “the next Rolleston” and it will be interesting to see if the local council supports industrial expansion alongside subdivisions Ravenswood and Pegasus, he says. Lincoln is also seeing strong growth and last month’s announcement Canterbury and Lincoln universities might merge is the latest sign of closer economic ties between the city and satellite town. However, it’s the new motorway networks that is underpinning much of the residential expansion at the moment, Twiss says. “We noticed it almost straight away when we joined with Hornby and Rolleston from Rangiora. There was a really strong crossover of buyers who were looking both north and south of the city.” The realisation buyers were after a lifestyle more than a particular location was like discovering a new market, Twiss says, one where traditional notions of distance were being collapsed by highways like the Western Corridor, which skirts the city from Belfast to Hornby. Further motorway upgrades are on the way for Rolleston and the north of the city, which will see a third major passageway open with the Cranford St bypass. Twiss says Rolleston is further along the growth path, leaving some of the best capital gains potentially in the area north of Kaiapoi. Harcourts Four Seasons is well-positioned for an overview of the market, being the only real estate firm covering all areas around the city. Its model of close internal networking, wherein any sales agent can show and sell any home listed with the group, also works to its advantage in the geographically diverse yet connected market. “People who list with us get huge exposure,” Twiss says. “We’re now really looking forward to bringing some more competition to the Lincoln market.” Six salespeople will initially be based at the Lincoln branch, including some who have always lived in the town but until now have worked from other offices. “We’ve got a big brand with a proven record, and now we’ve got the whole Canterbury-Christchurch area covered. We’re the only ones doing that,” Twiss says. Call the Harcourts Four Seasons Team on 0800 789 1011 or visit harcourtsfourseasons.co.nz. |
James Twiss
Licensed Business Owner of Harcourts Four Seasons Realty 2017 Ltd Greg Roberts
Licensed Business Owner of Harcourts Four Seasons Realty 2017 Ltd Archives
September 2020
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