Rolleston
Nikhil Saini | Market Report
Commentary
New Zealand's housing market has seen a price pullback this year, driven by economic headwinds as the country works to improve housing affordability. This trend is also evident in Rolleston, the country's fastest-growing suburb, now home to nearly 30,000 residents, where house prices have followed the nationwide decline.
Over the past six months, Rolleston has experienced a slight decline in the median house selling price, which now sits at $790,000. Despite this, there has been a 24% surge in property sales, with 327 transactions recorded. However, homes are taking longer to sell, with median days on the market increasing by 26% to 37 days.
We’re currently seeing high levels of housing inventory, which is influencing house prices. Many homeowners are grappling with higher interest rates, prompting more people to consider selling their properties. With National Government focused solely on bringing inflation under control, we can expect stability in the long term, though short-term challenges remain.
Rolleston is a highly attractive destination for buyers, thanks to its new housing developments, expanding infrastructure, close proximity to Christchurch, and more affordable housing options. After substantial gains in the median house price—rising by 30% in 2021 and another 12.87% in 2022—the market cooled in 2023, with a 2.7% drop. Homes that were selling above RV (Rateable Value) are now more commonly being sold at or below RV.
Inflation has been steadily declining, currently sitting at 3.3%, down from the 7.3% seen in Q2 of 2022. This will gradually start to reflect in everyday costs, leading to more affordable cost of living.
The government is aiming to reduce inflation to around 2%, though it will likely take another 12-18 months before we start to see the full effects on the economy.
Right now, we’re in a buyers' market, driven by lower interest rates and an oversupply of properties. Sellers should act sooner rather than later, as we expect the housing market to drop further heading into 2025. With more properties available, sellers need to be realistic about what price they can achieve for their home.
Many people are led to believe that after a recession, like the one we’ve just experienced, the real estate market will immediately take off as soon as interest rates drop. A true recovery requires more than just lower interest rates—it depends on the broader economy improving. Until then, we may not see upward movement in house prices.
We’re likely looking at another 3-6 months of market decline, followed by up to 24 months of recalibration before the market returns to healthy annual growth of around 2-4%. Don’t rely solely on mainstream media for market updates—always do your own research.
We recommend setting a realistic price guide to attract the right buyers and secure the best possible price for your home. Homes that are overpriced or listed without a price guide tend to sit on the market for longer, ultimately selling for less than market value. By pricing strategically, you can sell more quickly and at a better price.
If you need any advice on real estate, I’m here to help. Feel free to reach out to me anytime.
Nikhil Saini - Rolleston Specialist
A little about Nikhil Saini
Hello, I’m Nikhil Saini, a dedicated and passionate real estate professional with a rich background in business and retail sales management. Over the last 13 years, I’ve had the pleasure of working with diverse businesses across various regions in New Zealand, from Invercargill to Wellington, Rotorua, Kaikoura, and now Christchurch. My journey has provided me with a deep understanding of different communities and a broad perspective on the New Zealand housing market.
For the past six years, my wife, two young children, and I have made Rolleston our home. We absolutely adore this vibrant and diverse community. Rolleston is more than just a place to live; it’s a place to thrive, connect, and raise a family. Being part of such a welcoming community has been a joy, and I’m excited to contribute to its growth and prosperity through my work in real estate.
My academic background includes a Master’s degree in Management and a Bachelor’s degree in Finance. My professional journey has always been about serving the community, and I carry this philosophy into my real estate career. I believe in going the extra mile to help clients achieve their dreams and make informed decisions.
Having been involved in building a few houses over the past five years, I’ve developed a profound appreciation for the real estate industry. I understand that buying or selling a home is one of the most significant investments in a person's life. It’s not just about purchasing a property; it’s about creating a space where memories are made. I am committed to helping my clients find their dream homes and assisting them throughout this exciting journey.
Rolleston Breakdown in the last 6 months
Residential Sales
March 2024 - August 2024
$790,000
327 Properties Changed Hands
37
14
Barcote Lane, Rolleston
Sold for $725,000
Amodern masterpiece that effortlessly combines style, convenience, and comfort.
This beautifully designed home features three spacious bedrooms, including a master suite with its own ensuite, ensuring privacy and relaxation for everyone in the family.
60A Moore Street, Rolleston
Sold for $519,000
"This is the second home we have sold through Nathan & his team. Cannot fault on any aspect from communication, assistance with the whole process which we did remotely. We will not hesititate to use them again! Recommend to all 10/10"
Robbie & Sandi Bell (Vendors)
32 Standford Way, Rolleston
Just Listed: $775,000 - $855,000
Discover the charm of 32 Stanford Way, a well-maintained 4-bedroom, 2-bathroom home in the sought-after suburb of Rolleston. Currently tenanted, this residence combines modern convenience with comfortable living, offering an excellent investment opportunity or a future family home.
65 Burnham School Road, Rolleston
Just Listed: $1,475,000 - $1,745,000
Welcome to 65 Burnham School Road -a truly exceptional property. Nestled on an expansive parcel of land, this unique offering features two distinctive homes, each with its own charm and functionality.
Top Residential Sales in Rolleston
Monthly Median House Sale Price
Rolleston
Rolleston Number of Houses Sold Monthly
Lifestyle Property Sales in Rolleston
Rolleston House Sales
Rolleston Annual Sales Data
Residential House and Section Sales
The market has changed.
It’s not good enough to install a signboard, conduct 2 or 3 property viewings, hand out flyers, and hope you can eventually sell a home for a reasonable price.
Those days are gone.
Today you need an agency that has a strategical approach in order to achieve a premium price. At Najib we are proud to say we have perfected the selling process from start to finish.
We don’t just sell homes, we maximise the value of your property each and every time.
Book your free property appraisal with Nikhil: najibrealestate.co.nz/Sell/Free-PropertyAppraisal/
Najib Property Management
We manage properties all across Christchurch and Selwyn, providing the highest level of service to our landlords and tenants.
We know that the key to a successful investment is having great tenants who look after the property to a high standard and pay their rent on time.
Our passionate and proactive team focus on achieving optimum results. Najib prides itself on reading the market's ebbs and flows to ensure your property always attracts its maximum rental value, with minimal vacancy times.
With our finely-tuned documentation processes and a sound understanding of legislation front of mind, we leave fewer things for you to worry about. This brings you one step closer to securing a profitable future with a steady investment return.
If you would like to find out more about property management with Najib, please take a moment to touch base.
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Najib Sales Team
Nathan Najib West Melton Specialist
m 027 514 0775
@ nathan@najibre.co.nz
Sha Jega Lincoln Specialist
m 027 375 3670 @ shajega@najibre.co.nz
Nikhil Saini Rolleston Specialist
m 027 514 7599
@ nikhilsaini@najibre.co.nz
George Simpson Operations Manager
m 021 593 882 @ georgesimpson@najibre.co.nz
Emily Herman Sales Support
m 03 326 7914
@ emilyherman@najibre.co.nz
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They are not an interruption to our work. They are the purpose of it. They are not an outsider of our business. They are part of it.
We are not doing them a favour by serving them. They are doing us a favour by giving us the opportunity to do so.
We would love to thank all our clients and customers for being a part of Najib Real Estate, and for the wonderful reviews you have provided.
Real Advice Nathan Najib
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Specialising in Rolleston
m 027 514 7599
@ nikhilsaini@najibre.co.nz
116 Peterborough Street
Christchurch Central 8013
najibrealestate.co.nz
Nikhil Saini