November update

As the year hurtles toward its close, many of us are feeling the pressure to wrap everything up before the break. The mantra "Survive to '25!" seems to be resonating with many – and we’re nearly there! For the property market, this translates to a classic pre-Christmas push to get sales over the line.

?? Market snapshot: steady as she goes

The greater Christchurch property market continues to hold steady, with some noteworthy trends emerging as we near year-end:

• Median Prices: Christchurch’s median price reached its highest point since March - at $699,000
• Selwyn District: Median sale price of $800,000: a 3.7% drop in prices compared to October 2023.
• Waimakariri District: Median sale price of $712,000 - virtually unchanged on this time last year.
• Activity levels: The number of sales across Christchurch, Waimakariri and Selwyn was up 28% reflecting greater confidence among buyers and sellers alike.
• New listings: October saw a 36% year-on-year surge in new listings – an enormous increase for an already busy period.

The recent 0.5% cut to the Official Cash Rate (OCR) has buoyed buyer interest, but with so many properties on the market, buyers have plenty of options.

What’s ahead? The coming 6-12 months should see interest rates continue their downward trend. However, a struggling economy, rising unemployment, and anecdotal reports of Kiwis selling up and heading to Australia for better wages may temper activity.

??? Suburb Snapshot: Spreydon

My latest video series explores Christchurch’s suburbs, and having recently marketed a home on Stourbridge Street, Spreydon was the perfect place to kick off. This suburb is a consistent favourite, thanks to:

• Diverse housing options: From tidy flats and modern townhouses to charming bungalows and villas.
• Location perks: Barrington Mall, local library, parks and schools + easy access to the central city and the Port Hills.

If there’s a suburb you’d like me to feature next, drop me a line – I’d love to hear your thoughts!

?? Case Study: 22B Stourbridge Street, Spreydon

This recently sold property demonstrates the steady demand for well-presented homes in Spreydon:

• The property: A three-bedroom, 1990s single-level townhouse.
• Initial purchase price: $625,500 (2022).
• Upgrades: A stylish new kitchen and other aesthetic improvements.
• Campaign highlights: Over 90 buyer inspections and strong interest from downsizers and first-home buyers.

The auction resulted in a sale price of $702,000, following competitive bidding and negotiation. If you have a property in Spreydon, Hoon Hay, or Somerfield and are considering selling, I’d be delighted to discuss how we can achieve similar success.

?? Proud Sponsor of the Special Children’s Christmas Party

This December, I’m honoured to sponsor the Christchurch Special Children’s Christmas Party. This incredible event provides children facing challenging circumstances and their families with a day filled with fun and joy. I can’t wait to see the smiles this special day will bring!?

?? Event Invitation: The Complete Voyage of the RMS Titanic in 90 Minutes

This hilarious reimagining of the Titanic’s story is co-created by Lizzie Tollemache and my partner, Daniel Pengelly, with three actors and a live musician. You're invited to come along to the dress rehearsal - free entry. We'll be serving complimentary ice cream too!?

• Date: Wednesday 8th January
• Time: 7.00pm
• Location: Archery Lawn, Christchurch Botanic Gardens
• What to bring: Something comfortable to sit on, drinks and snacks.
• RSVP: Click here to give us an idea of numbers.

? January Jumpstart

Thinking about selling in the new year? Lock in this special offer by signing up your property in December for a January launch:

• Flat commission: $15,000 + GST.
• Home prep voucher: $500 towards landscaping, maintenance, or styling.

Click here to book your listing appointment and start 2024 with momentum.

?? Ready to make your move?

To discuss any of the above or start your real estate journey, feel free to:

• Schedule an appraisal
• List your property
• Book a discovery call