Housing market slows but values still rising

LIZ MCDONALD
Last updated 15:27 07/07/2014

Relevant offers

Your Property

Hotel project to replace luxury apartment scheme Commercial property's boom-bust cycle catches up with lawyers Historic Tudor House on the market Threatened Christchurch mansion for sale as-is-where-is Housing market slow and steady Million-dollar homes on the rise at Lake Tekapo Beach suburb home values bouncing back Christchurch eco house is passive Good news for home buyers for 2016 Jucy Snooze hotel in Christchurch to be first of chain

Christchurch's housing market has quietened slightly, but values are still rising.

Quotable Value (QV) said the city's  average house value in June was $459,617, up from $456,962 the previous month.  

The June figure was 7 per cent higher than a year ago.

QV valuer Daryl Taggart said rising mortgage interest rates were influencing buyers' decisions and making them more cautious.

"While the Christchurch property market has an appearance of quietening down, there is still plenty of sales activity." 

Taggart said properties were still selling at auction, but a higher percentage were being passed in so buyers could negotiate more favourable terms.

High rents were encouraging investors to buy, he said.

The QV report said the south and west of Christchurch has seen the largest rise in values with an 11 per cent increase in a year. 

Average values and annual increases across Canterbury were: Hurunui $340,551 (4.4%) Waimakariri $405,007 (7.1%) Selwyn $504,609 (8.8%), Ashburton $323,494 (7.3%) and Timaru $280,066 (4.7%).

In other South Island districts, they were: Tasman $410,318 (2.1%), Nelson $400,554 (1.7%), Marlborough $348,086 (1.4%), Buller $206,718 (down 6.6%), Grey $216,367 (0.8%), Westland $232,235 $1.9%, Waitaki $220,305 (1.0%), Central Otago $313,350 (4.2%), Queenstown Lakes $664,353 (4.3%), Dunedin $288,609 (1.1%), Southland $206,422 (down 1.2%), and Invercargill $211,625 (3.7%).

Ad Feedback

- The Press

Comments

Special offers

Featured Promotions

Sponsored Content