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The Star: September 15, 2016

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<strong>The</strong> <strong>Star</strong> follow us on facebook.com/riseupchristchurch<br />

Thursday <strong>September</strong> <strong>15</strong> <strong>2016</strong> 5<br />

Chinese interest in Chch property jumps<br />

• By Anne Gibson<br />

THE NUMBER of Chinese<br />

buyer inquiries about<br />

purchasing properties in<br />

Christchurch has jumped<br />

300 per cent compared with<br />

the same month last year.<br />

<strong>The</strong> Chinese Purchasing<br />

Intent Index on Juwai.com<br />

– the largest international<br />

property website for<br />

Chinese buyers – said<br />

Christchurch saw the largest<br />

increase in interest from<br />

Chinese buyers, comparing<br />

August last year, to August<br />

this year.<br />

Christchurch was the<br />

second top location in<br />

the country in terms of<br />

buyer interest, following<br />

Auckland.<br />

However, Gavin Norris,<br />

head of Australia and New<br />

Zealand for Juwai.com, said<br />

the number was still significantly<br />

lower than Auckland<br />

in absolute number of<br />

inquiries.<br />

Harcourts Christchurch<br />

business development<br />

manager Mike Mullen said<br />

the company did not keep<br />

statistics on overseas buyers.<br />

However, he said the<br />

number of Chinese buyers<br />

inquiring about properties<br />

in Christchurch did not<br />

necessarily mean they were<br />

buying them.<br />

“All I would say is our<br />

auction rooms continue<br />

to be active, there’s still a<br />

presence of buyers being in<br />

there,” he said.<br />

“<strong>The</strong> Chinese have a very<br />

active interest in property.”<br />

Christchurch Mike Pero<br />

real estate agent Sonia<br />

Tafilipepe said she was<br />

surprised there had been a<br />

large increase.<br />

“I personally don’t see<br />

it that high from what’s<br />

happening in the general<br />

market.”<br />

It comes as new Real<br />

Estate Institute of New<br />

Zealand figures show<br />

Proud installers of<br />

Christchurch house median<br />

sale prices have risen from<br />

$430,000 last August, to<br />

$435, 750 last month.<br />

<strong>The</strong> national median for<br />

August was $492,000, up<br />

5.8 per cent annually from<br />

$465,000.<br />

Nationally, inquiries<br />

about properties from Chinese<br />

buyers had jumped by<br />

50 per cent across the country<br />

compared to August last<br />

year.<br />

That contrasted with<br />

January when the number<br />

had declined.<br />

<strong>The</strong> Labour Party wants<br />

to ban foreign buyers, and<br />

Land Information New<br />

Zealand is collecting data<br />

on the number of foreigners<br />

buying properties here.<br />

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