19 February 2013

PRESS RELEASE

Grenadier Real Estate Sales Up 31% Over Last Year

Harcourts Grenadier Real Estate Ltd has reported its busiest January in three years, with settled sales for the company 31% ahead of January 2012.

General Manager Bryan Bloomfield says the growth is heartening after two very disrupted summers, and is evidence of the resurgence of interest in the property market.

“We are all very conscious of the fact that Christchurch is operating in an unusual climate after extraordinary circumstances, and the demand for acquiring sound homes is extremely high.”

He says a severe shortage of listings has resulted in an increased focus on auctions.
“Over the last six months, the number of properties we have listed for sale by this method has grown by 20%.”

“We are in a market very much in favour of sellers at present, and this is clearly reflected in the numbers of properties available. Our inventory of stock available equates to 18 weeks of sales, which is well below the long term average of 31 weeks.”

ENDS