Christchurch Metro MarketWatch - Sept 2014
Christchurch Metro MarketWatch
Christchurch Metro Overview:
Sales are down by 22.7% indicating a hesitancy that has been creeping into the market. Buyers are displaying caution when it comes to making a purchase, and are not prepared to pay more than what they think is fair market value. This is requiring vendors to readjust their price expectations if they wish to sell.
There has been a drop in the number of new listings and auctions in the Christchurch Metro region, which is due to the expected winter dip and also a “wait and see” approach until after the election. Sellers are also holding on to property as there is no certainty they will be able to buy an appropriate house elsewhere.
Average prices are still up on the same time last year, however there has been a drop since June’s all time average price high of $529,092.