19 Oct 2021
Spread the Net Wider to Strike Gold on the Property Ladder
Golden Homes® Christchurch are encouraging buyers to look outside of traditional central city hotspots to achieve their home ownership goals amidst soaring prices in the region and the growth of working-from-home since COVID-19.
Median house prices in Canterbury saw a new record of $660,000 in September, up 31 percent from $504,000 in September 2020, according to the latest data from REINZ, while the region is experiencing a low level of stock down 36.6 percent annually.
With demand in the market showing no signs of easing and city workers spending more time in their home offices, Dean McGuigan, license holder and Managing Director of Golden Homes® Christchurch suggests satellite towns are a smart alternative for frustrated buyers.
“We are seeing satellite towns popping up all across Canterbury, and they are proving to be desirable for those wanting to get on the ladder right now,” he says.
Golden Homes® Christchurch has a number of newbuild projects available to buyers looking to enter the market immediately in areas such as Leeston, Amberley, and Rangiora, many priced under $890,000 for a high-quality brand-new home on a much larger section than comparable city sites.
“We’re finding these outlying areas are really attractive to buyers from other regions as well. For the average buyer coming from Auckland or Hamilton, a 30-minute drive into the city is nothing compared to their usual commute,” he says.
Increasing your property search area and taking satellite towns into consideration is important for prospective home buyers advises McGuigan.
“Feedback from our buyers is that they are pleasantly surprised at the lifestyle on offer in these locations. Many areas already have great cafés, supermarkets, and schools close by. Mix this in with section availability, and they become a really attractive option.”
Interested in property around Canterbury? Contact the Golden Homes® Christchurch team on 03 377 7940.