The following is an excerpt from the latest Harcourts Property Watch and relates to the current market conditions in Christchurch:
"There has been a slight drop in the number of listings, but an increase in written sales – an indicator of supply levels falling short of demand. The average selling price for a residential property in Christchurch sits at $476,695. This is fairly constant with the same time last year, however April 2013 was a record setting month. As the rebuild continues and the city’s population continues to increase, LVR restrictions will become increasingly ineffectual. The restrictions have only ever been intended as a temporary measure, and we would applaud moves by the Reserve Bank to end them."
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Mel