Market Report – November

The median house price for Christchurch City eased downward $460,000 for November 2018, this time last year it was $470,000 and in the previous month it was at $474,000.

Enough statistics… What were the real estate trends we actually noticed and experienced first-hand for 2018?

1. Auctioning properties did not always seem to be the answer. A steady number of properties were consistently passed in at auction this year quite often then leading to a larger expense to the property owner and a longer period on the market.

1. Inaccurate and overpriced priced properties not selling (dependent on the properties price range and location). Several areas this year were condensed with strong numbers of for sale properties in a similar price bracket. It doesn’t take much to put two and two together!

1. Presentation and first-impressions had the upper-hand. In areas where the market was spoilt for choice, the properties we marketed that had the ‘x-factor’ or the impression that left buyers pleasantly surprised reaped the benefits. A shorter time on the market and a pleasing sale price.

1. A mixed buyer personnel. With a change in government this year some people may have expected other buying personnel to flourish and others to quiet. Although first-hand we have experienced all types consistently purchasing property, strong investor numbers, first home buyers, owner occupiers and families.