What’s happening in the Christchurch Market?

Sharon’s thoughts as we hit the festive season and 2022

To be honest, a couple of years ago I was not a fan of Rolleston. I see myself as a typical Cantabrian and the thought of driving 30-40 mins each way to work was simply unfathomable- Why would anyone want to do that? We don’t need to do that in Christchurch.

I am now eating my words- and I am open to have been proved wrong, I will blame my age and stage of life. We simply cannot get enough properties in Rolleston to keep up with demand. A couple of weeks ago we advertised three lovely wee three bedroom homes. Not only did we secure tenancies for all three properties within 48 hours, we also signed up a tenant for two other homes that we knew were settling two weeks later. The advertising also raised an enquiry for someone from out of town, after providing photos and information to that person, we signed them up for a current property under our management where the tenant had just informed us that they need to break their lease. Was this just a good week? – I doubt it- we listed a property yesterday and have nine people booked in for Friday morning and several other enquiries.

Why is this happening? People want a warm secure, new build home. The younger generation are staying at home longer than before and they are used to double glazing, heatpumps and easy care sections. Travelling for work is not something that they seem to be concerned about, it is all about lifestyle and Rolleston continues to develop and grow, providing to their needs.

Talking about lifestyle, there is still one area of the market which is slower than we would like, and that is in the smaller properties. I believe that the reasons for this are pretty clear and hopefully 2022 will see a change and we will see demand catch up to supply. Firstly of course we had the earth quakes and many of the larger homes in the city center have been replace by high density living which in my opinion is generally preferred by foreigners, kiwis like to have their back yard and their cars. Many of the inner city properties are being built with only one off street carpark or no parking at all. The borders being closed has of course also affected the Airbnb Market which has also meant that many of those properties have been placed on the long term rental market and increased the supply.

Outside of the comments above our market is strong and I do not see that changing, most viewings for three and four bedroom family homes across Christchurch are having in excess of twenty people showing up and we are doing two-three viewings to ensure that we get the best tenants on the market.

Christchurch is a great city which overs a lifestyle which other big centers do not. Its ease to travel in and around the South Island and carve out a great work life balance is something to be proud of and I hope more people will be able to make the most of it.

Thinking of investing in the Garden City? Please do not hesitate to call Sharon on 0273550359 for a chat and on the ground opinions