Harcourts’ South Island Regional Manager, Jim Davis, update us on the Christchurch real estate market.

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 Christchurch real estate 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.

If you are in any part of the Christchurch real estate market you should 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.

Here at Harcourts it’s our job to look after you and help you get the sale you want so give us a call.

Kate Sheppard’s House For Sale

19 September 2018 is a very special day for women and the global democratic process. It marks the 125th anniversary of New Zealand becoming in 1893 the first country in the world to grant women the right to vote. In the UK it took a further 25 years for women to be given the vote in 1918, while in the USA some women were given the vote in 1920, although African American women were not enfranchised until 1965.

Kate Sheppard was the trailblazer and driving force for this momentous ground-breaking development, which she directed from her villa at 83 Clyde Road in Christchurch, writing pamphlets, preparing speeches, lobbying and most importantly collating thousands of signatures from throughout New Zealand for her petition to Parliament. The signatures were pasted on to rolls of wallpaper in her dining room and later theatrically rolled out on the floor of Parliament by Sir John Hall, which helped convince a sceptical Parliament to vote through the revolutionary new electoral law.

Arguably one of New Zealand’s most famous and influential women, Kate Sheppard now appears on its $10 note – with Everest conqueror, Sir Edmund Hillary on the $5 note and HM The Queen on the $20 note. A commemorative bust of Sheppard has pride of place in the New Zealand Parliament and together with others in her progressive movement, she appears on a large bronze plaque on the banks of the River Avon in Christchurch.

The iconic home of Kate Sheppard still exists, looking much as it did in Sheppard’s time, sitting on more than a manicured acre close to the heart of the city. Eulogised on TV shows and in numerous magazine stories, this special family home, which is a heritage one listed property with its exquisite gardens having been a New Zealand Garden of Significance, is now for sale – and for the first time in 33 years.

The serene beauty of this remarkable residence, with its iconic place in New Zealand’s history cannot be overstated.

VIEW LISTING HERE

For further details, or to receive high quality images for publication, please contact listing agents:

Martin Sutton

M:027 325 1221;

E: martin.sutton@harcourts.co.nz

Laurie Sutton

M:027 260 7782

E: laurie.sutton@harcourts.co.nz

Ilam 2 (Head Office), 397-399 Ilam Road, Ilam, Christchurch 8053

Selling by auction is a common in the Christchurch real estate market so it pays to be familiar with the process.

Buyers Meetings
It is possible for buyers to meet with a member of the Holmwood management team. This is an opportunity for our manager or auctioneer to answer in an informal environment any questions you might have about the auction procedure, bidding, what the various terms mean, etc. There is absolutely no obligation, just come, relax, see the layout of the auction room and learn how buying at auction works for you.

Register Your Interest
If you are interested in the property, be sure to let the salesperson who showed you the home know. This ensures that if another buyer makes an offer before the auction (that the owner will accept) then we are able to contact all registered parties (those who have registered their interest).

Property Information
When you purchase at auction the sale is unconditional and legally binding. Therefore before the auction you will need to be satisfied with any property information, e.g. title, LIM and the particulars and conditions of sale. If specialised reports are required these can be obtained and reviewed prior to the auction date. It is advisable to have your solicitor approve these.

Finance
Before the auction date you will need to have your finance approved. On the day of the auction you will be required to pay a 10% deposit immediately (so remember to bring your cheque book or arrange with your bank to pay online come auction day).

Terms and Conditions
If the terms and conditions don’t suit you, it is often possible to change some of these e.g. the possession date and chattels. This needs to be done before the auction by your salesperson who will obtain the owners agreement in writing (an Aside Agreement).

Pre-auction
As a buyer it is a good idea to have a pre-auction meeting with the salesperson who introduced you to the property to discuss the auction, method of bidding, strategies in bidding and any variations that you may require. If you are unfamiliar with bidding or would prefer not to bid yourself, do discuss this with your salesperson for other options.

At Holmwood Auctions we are here to help.

To check our live Auctions please visit: livepropertyauctions.co.nz

Location:
Holmwood Auction Room, 397-399 Ilam Road, Ilam, Christchurch

The Holmwood Auction Room is located approximately ten minutes from the city centre. There is on site and off-street parking available.

Christchurch Property Market Comment by Jim Davis, Harcourts South Island BDM

The just released REINZ sales statistics for the month of June for Christchurch Property Market have finally produced the result we have been expecting and predicting for a while now. The figures show that sales in the city have slowed in the last month compared to earlier this year or against the same period last year. This result is not surprising and was as we said expected “eventually”.

It is not surprising, quite simply because we are right in the middle of a cold wet dreary winter with June having had particularly bad weather. Additionally, the drop was expected ‘eventually” because of what we have been reporting for the last few months now, namely that there has also been a marked drop off of newly available property to sell in the prior months. If there is a lack of stock on the market you simply can’t sell it and so sales figures were always destined to slow.

Let me also predict now, this last month’s lower than usual sales will be replicated over the next month– but come spring and warmer weather I have no doubt normal sales figures will resume. Why am I so confident, because from what I see and hear from the coalface there is already considerable interest being shown by clients getting ready to sell in the spring. Consultants right across the city have already advised that in the last week or so there is plenty of interest from people getting ready to sell in the spring.

The median sale price is also down this past month but once again that is a reflection of lower sale numbers coupled with the increased interest from the first home buyer’s market. So the actual market realty has just finally caught up with our city’s sales.

As a vendor thinking of selling this is a great time to hit the Christchurch property market even if it is a bit cold at present, a great analogy given to me last week was as simple as this.  Do you want to sell now and be a like a big fish in a small pond, or wait till spring and just be one of the fish in a much bigger pond. I am sure you get the idea.

Regardless of your preferred time to look at selling ensure you are talking to your local Harcourts offer, no other company can provide the resources or results that Harcourts can in our fair city.

As a buyer in the current market you will already know there is a lack of fresh stock and as I have said I expect this to continue for at least another month or so.

Additionally if you are purchasing log onto our new upgraded digital Bluebook at canterbury.harcourts.co.nz/bluebook   

This new look Bluebook is fully digital and a great asset or assistance to any buyer.

In the mean time hang in there our Winter market is what it is but as I mentioned earlier there are rational reasons for it.