Should we be alarmed by Christchurch property values remaining static without growth? Will values increase again?
Quite simply, the greater Christchurch property market has slowed due to supply and demand. It’s not hard to appreciate the sheer volume of land that has been made available for residential development post-quake. Concurrently an unprecedented volume of newly built homes have entered the market. This inevitably has created the current over-supply of housing in the greater Christchurch marketplace. Ultimately this is a good thing and is helping keep housing sustainable in the long term post-quake.
With the rebuild of the inner city now well underway led by the Crown Anchor Projects and precincts, it is only time before the heart of the city really begins the pump again. Check out these exciting projects and progress at Otakaro Limited. There is probably actually more happening than one would appreciate! While accepting that “Rome wasn’t built in a day” it is inevitable that property values will increase again once the heart of the city begins pumping, attracting people by the buzz and positive vibe – besides they are currently well behind the current values in the country's main centres.
“With Christchurch so affordable prices will rise, it is only a matter of time!”