Christchurch House Prices & Real Estate
According to Quotable Value figures in the last five years, house prices in Christchurch City have risen by 21%….
But over the same period, they have risen 71 per cent in Auckland has seen a rise of 71%, 44% in Wellington and 37% in Dunedin!
Generally speaking… House prices change because of the demand from buyers and the properties supplied by sellers.
There are suggestions that post earthquake residential rebuilds and new developments in Canterbury may have created an over supply. This is only a concept and it isn’t to say too many homes have been built but one conclusion to possibly consider is that the market in Christchurch is better supplied than other cities.
So what will happen in 2018? Are house prices going to rise or fall? It is likely safe to say that we cannot expect major movements for Christchurch as the city’s real estate still remains in a time of ‘consolidation’. Only time will tell…