PB - It’s Not All Bad News

IT’S NOT ALL BAD NEWS

Hi, my name is Jackie Derrick, and I have the pleasure of joining Property Brokers as the new Area Manager for Selwyn. I grew up in Rolleston, attended the local schools and returned to the area fifteen years ago to commence my Real Estate career. I have certainly witnessed a lot of growth in the Selwyn region, and of course the normal peaks and troughs that all markets experience. Whilst we are reading the ongoing commentary regarding the current real estate market, we are aware that not all real estate commentary is generic to all parts of the country. It’s been pleasing to see through statistics but not surprising, that Canterbury may escape the sudden downturn in the housing market that is being experienced elsewhere in the country. The latest House Value Index figures show the average property value in the region grew 2.9 percent ($22,000) over the quarter to $787,000. That is only slightly down on the 3.2 percent recorded in the three months to the end of March. Strong value growth in Selwyn and Waimakariri, 5.7 and 5 percent respectively has helped pull up the overall figure. That said, it’s no secret that inflation and restrictive bank lending is having an impact on the number of buyers in the market, which is translating to lessor number of attendees at open homes resulting in properties remaining on the market for longer. It’s reassuring to know that our agents at Property Brokers are highly experienced and well equipped to adjust to the changing markets and working alongside vendors and buyers. If you wish to discuss the current market further or are thinking of selling, please do not hesitate in contacting any of our Darfield agents. See advertisement in this issue for contact details.