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?
- 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.
- 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!
- 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.
- 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.