Canterbury homeowners looking to sell are in a strong position right now. Buyer activity is up, median sale prices are holding firm, and the region continues to outperform the rest of New Zealand. That said, timing, presentation and realistic pricing still matter.
Despite plenty of media coverage about falling house prices nationally, Canterbury has largely gone against that trend, with median sale prices remaining robust and recently reaching record levels.
For sellers who are ready to move, the advice is simple: don’t wait for perfect market conditions. The market shouldn’t dictate how you live your life, particularly if you’re moving on from your own home and into a new one. Buying and selling in the same market means price fluctuations tend to balance out.
The first daffodil shoots are starting to come up in Hagley Park, so Spring is fast approaching! That means the next month or so is a great time to get the ball rolling on listing your property ahead of the election in November, a time which historically works as a distraction in the market.
The Townhouse Caveat
The overall market is performing well, but we are seeing an oversupply of townhouses, particularly in the central city and higher density areas, where new developments have entered the market. On the other hand, traditional family homes, particularly those in the first-home-buyer price range, are seeing solid demand, as are smaller investment properties like units.
Presentation Matters
Today’s buyers have high expectations and little patience for properties that need work. You likely won’t need to undertake a full renovation, but a tidy-up, fresh paint, and attention to any outstanding maintenance can make a real difference to how your home is perceived.
Home staging has also become standard practice for most listings, with a range of affordable options now available. A well-staged home – particularly where a property is vacant – helps buyers connect with the space and positions your property more competitively in the market.
Be Clear on Price
With most cases in the current market we would recommend putting a clear price indication on your property rather than going to market with a “price on application” or “by negotiation” approach. Not only can this set you apart from the pack, but it can also mean that you’re actually finding the right type of buyer from the outset as well.
This is especially relevant if your property sits in the first home buyer price range, where buyers are often working within tight budgets and doing a lot of their searching online, they appreciate straightforward information as they make decisions quickly.
The Bottom Line
The Christchurch property market is in a good position – buyer activity is up, median prices are holding well, and spring is just around the corner. If you’ve been thinking about selling, this is a great time to take that next step.
The best place to start is with a current appraisal. Get in touch with the team at Irelands and we’ll give you an honest picture of what your property is worth in today’s market – and what you can do to make the most of it.