Provisional housing market update

Provisional housing market update

June 2016 Christchurch Metro
4 July, 2016

During the month of June the average house price in Christchurch sat at $496,300.

Provisional data from New Zealand’s largest real estate group Harcourts, shows that low stock levels continue to be the main driver in the Christchurch market.

There are currently 1,455 houses for sale on Harcourts’ books in Christchurch.

At current levels of sale, with no further new listings, this would be enough to last for 3.4 months.

The figures come the day after Prime Minister John Key announced a new $1 billion fund to fast-track infrastructure development by councils with high new housing demand.

Harcourts CEO Chris Kennedy says the government’s move is a step in the right direction.

“If we look at the population projections, the housing shortage is not going away. Obviously Christchurch is undergoing a rebuild and the more money that can be spent on improved infrastructure, in conjunction with a simplified and expedited consents process, the better. We want to make building as attractive to developers as possible.”

Mr Kennedy says first home buyers should not lose heart, and there are options available for them.

“Our lending arm, Mortgage Express, will do everything they can to help you into your first home, and our sales team can show you were the best value for money lies.”

ENDS

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