COASTAL MARKET UPDATE | AUGUST 2022

Over the past 6 months there have been 91 sales stretching from Mt Pleasant to Sumner, ranging from $380,000 – $3,725,000!

What we are finding on the ground is our coastal communities being more popular than ever, since the first COVID-19 lockdown the number of enquiries for these areas has increased threefold. Cantabrians, expats & out of towners have recognized the value within our beloved city and decided to make Christchurch HOME. We have seen a spike in the property values from the bridge onwards.

Christchurch hasn’t had an easy ride, to say the very least. In 2008 we experienced the GFC which stunned house prices, while slowly making a recovery from that we were hit with the 2010 & 2011 earthquakes which devastated the housing market, it has taken us over 10 years to get back to a level of security buyers are confident with.

The COVID-19 pandemic was a blessing for the housing market especially in Christchurch. Over the last 2 years we have seen a spike in the housing market, the average house price in May 2020 was $537,416 and in July 2022 the new average house price is now $792,466 – a 32.17% increase!

Christchurch has proven that it can perform as well as the rest of the country and we needed that consumer confidence back into the Christchurch market to bring in new life. But I believe that this is only the beginning, Christchurch is one of the most stable markets within New Zealand, slowly gaining month on month a higher average sale price. Looking at the past gain and what is expected to happen in the future, the infrastructure that is being built within the CBD means we can expect another run within the next 2 – 3 years.

Whatever your plans are, whether it is a renovation, looking for a rental investment or seeing where your home is currently sitting in the market – talk to one of our HOME specialists today!