Good time to buy in Christchurch: Harcourts
It has released its latest MarketWatch, in which it says there has been a big jump in the number of new listings in Christchurch, up 27.6% on June 2013.
The amount of property on hand had also increased by just over 30%.
Harcourts said that was largely because of the number of new builds that were coming on to the market.
Chief executive Hayden Duncan said: “LVR restrictions and rising interest rates have seen a drop in the number of buyers, and this has shifted power in favour of those looking to purchase. However, the average sales price is at an all-time high of $529,097. While it might seem that prices should be dropping with an increased level of stock and less buyers, this is not the case as many of the new builds have a fixed cost per square metre that must be met.”
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