June 2024
?? Christchurch voted New Zealand's happiest city
It's official—Christchurch has been crowned New Zealand’s happiest city according to the 2024 Happy City Index by the London-based Institute for Quality of Life. This prestigious index evaluates cities on their commitment to happiness through education, inclusive policies, economy, mobility, environmental protection, access to green areas, and innovation. Christchurch shone brightly, securing the 32nd spot overall and being the only New Zealand city in the top 37 ‘gold’ category. Wellington and Auckland trailed behind at 50th and 72nd, respectively, making Christchurch the undisputed leader. But really, it’s no surprise given how much our city has to offer. From easy access to a plethora of recreational activities, affordable housing options, to a thriving hospitality and entertainment scene, Christchurch truly is a fantastic place to live and thrive.
?? What's the market up to?
Last month, I speculated whether the Christchurch property market had stalled following reports of a 5.8% drop in the median sale price from March to April. While prices have recovered somewhat with a 1.9% increase from April to May, the considerable increase in the number of sales - up 31% compared to this time last year - is particularly interesting. This trend shows that sellers listing their properties are genuine in their intent and prepared to meet the market. Whether relocating for work, scaling down due to interest rate hikes, or simply navigating life's changes, the majority of sellers are focused on making a move.
?? Outliers in the market: recent success stories
Despite a more subdued market in recent months, our recent listing at 14 Greenaway Street received an overwhelming response with over 50 groups inspecting the property and six offers submitted. This immaculately maintained property, built in 2014, attracted interest from a mix of first-home buyers, young families, downsizers, and investors.
Our listing at 18 Austin Street also generated strong interest with 20 groups through in its first weekend of open homes. This modest but updated 1920s bungalow in Sydenham was priced competitively at $539,000, resulting in a final sale price of $550,000 for our owners.
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?? Government seeks feedback on no-consent 'granny flat' policy
The government has announced consultation on a new policy that would force councils to allow buildings up to 60 square metres in certain areas without requiring consent. This could be a great opportunity for those looking to increase cash flow or better accommodate extended family living arrangements. If this policy is enacted, will you be looking to take advantage of it? I’m keen to hear your thoughts!
?? The groundwork for a spring sale begins in winter
Thinking about selling your property this spring? Now’s the perfect time to start the conversation. Winter is ideal for laying the groundwork for a successful spring sale. By starting early, we can plan out everything from minor repairs and touch-ups to a high-impact marketing strategy. This way, your home will be in top shape to attract buyers when peak selling season hits. Let's chat about your goals and create a game plan to make sure your property stands out this spring.
?? Ready to make your move?
To discuss any of the above or start your real estate journey, feel free to:
As always, I'm only a phone call or message away if there's anything further I can do to assist with your plans.