Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Provisional housing market update - Christchurch Metro

Press Release, Harcourts
For immediate release

Provisional housing market update

February 2017 Christchurch Metro

3 March, 2017

During the month of February, the average house price in Christchurch sat at $563,322.

This is an 11% increase on the same time last year.

Provisional data from New Zealand’s largest real estate group Harcourts, shows that low stock levels continue to be the main driver in the Christchurch market.

There are currently 1,546 houses for sale on Harcourts’ books in Christchurch, down 21% on the same time last year.

However, Harcourts CEO Chris Kennedy says sales consultants are starting to report an increase in listings, which will mean more choice for those looking to buy.

Meanwhile, Kennedy says speculation about the property market “bubble” bursting is unfounded.

“There is no bubble. In the 12 months to January, we had a net gain of 71,305 migrants in New Zealand. New builds are not keeping up with the demand, so we will continue to see a strong housing market.

“Having said that, there has been a fall in the number of property investors following tougher loan to value restrictions introduced last November. This has seen the market cool slightly and return to the healthy levels of 2014. The heat of 2015/2016 was unstainable long-term.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Tubes: Tasman Global Access Cable Goes Live

Spark, Vodafone and Telstra have today announced the Tasman Global Access (TGA) cable is officially in service and ready to carry vast quantities of Internet traffic between New Zealand and the world. More>>


Theresa Does: Brexit Letter Sees NZD Touch Week-High Vs GBP On Brexit

The New Zealand dollar rose to a week-high against the British pound and euro after UK Prime Minister Theresa May officially triggered Britain's exit from the European Union. More>>


Statistics: Business Research And Development Up 29 Percent

Computer services and machinery manufacturing firms led the way in an almost 30 percent lift in business spending on research and development (R&D) in 2016, Stats NZ said today. Businesses spent $1.6 billion on R&D in 2016, up $356 million (29 percent) from 2014. More>>


China Shopping: NZ-China FTA Upgrade Agreed Among Slew Of New Deals

New Zealand Prime Minister Bill English and China Premier Li Keqiang signed off a series of cooperation deals spanning trade, customs, travel and climate change and confirmed commencement of official talks on an upgrade to the nine-year old free-trade agreement between the two countries. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news