The Star: March 03, 2022

Thursday March 3 2022 The Star
Latest Canterbury news at starnews.co.nz
sale profits double in a year
“There’s not as many subdivisions
being opened up so one of
those constraints on Christchurch
values which has been quite
a lot of supply is now not there
so much anymore so they are
facing similar sort of supply and
demand pressures that have been
in place elsewhere,” Davidson
said.
Justin Haley, of Bayleys
Christchurch, said last year’s
market performance had been
surprising.
“There’s never been a stronger
market. Talking to agents particularly
who had been around
for 30-plus, 40 years, they’ve
never seen a market like it,” he
said.
“What that meant was vendors
were having their expectations
exceeded on a regular
basis.”
He cited a recent sale
where the auction was
brought forward at $1.92
million which then bid out
to $2.25 million.
“There were 10 bidders
in the room. It just shows
how popular single-level,
smaller floor-plated modern
post-earthquake construction
is,” he said.
“That’s another lazy $330,000.
That was very common last year.
We were seeing auctions brought
forward regularly and consistently
bidding over and above
what the vendor had already
agreed to – we’ve never seen that
type of activity or behaviour
before.”
This was down to the
perfect storm of record
low interest rates and
record low stock levels,
but stock levels are back
up now.
This time last year
there were around 850
listings whereas normally
they there would be
around 1400 or 1500 but “we’re
back up to 1500, 1600 listings
now so there’s going to be more
choice for buyers”.
Haley said the clearance rate at
auctions was still at 76 per cent,
and while there aren’t as many
buyers per property, properties
Justin
Haley
are still selling well.
“Are we working a little bit
harder? Probably, but that’s
because vendors have expectations
that had been elevated over
the last two years of significant
growth and buyers are just simply
saying: ‘Hey, look, well, that’s
the best I can do at the moment
because I’m going to go and have
a look at the other one round the
corner tomorrow’.”
Interest rates and inflation
were rising and the CCCFA was
making money harder to get, yet
banks were still lending, he said.
“If they don’t lend they don’t
make money. I think we’ve got a
positive outlook. I see it as being
a steady, normalised market,
which is really healthy.”
And Christchurch was heavily
BOOMTOWN:
Almost
everyone
who put their
house on the
market in
Christchurch
in the last
three months
of 2021 made
a profit.
still undervalued compared to
the rest of the country, he said.
Tony MacPherson, from Ray
White, agreed. “I’ve been in the
business over 30 years and it’s the
best market I’ve seen,” he said.
A lot of auctions were brought
forward and it wasn’t unusual
for vendors to pick up an extra
$100,000 on a median priced
house, he said.
“Some of them really came
away feeling like they’d won
Lotto. I had one lady say to me
she was going to retire early.”
The auction clearance rate for
his agency was huge at 81 per cent.
“People out of Auckland can
move down here and basically
halve their housing costs, and
the wages aren’t that much
different.” – NZ Herald
NEWS 7
Nationwide
downturn
could affect
Christchurch
CHRISTCHURCH has so far
defied a weakening residential
property market but a leading
industry analyst this week predicted
the city will eventually get caught
up in a nationwide downturn.
THe latest CoreLogic’s House
Price Index released on Tuesday
reported prices increased an
average 1.1 per cent in February
- the second largest jump among
the main centres behind Auckland
(1.8 per cent) - to produce a median
value of $759,591.
Dunedin (1.0 per cent) and
Hamilton (0.9 per cent) had the biggest
drop in value; Wellington and
Tauranga rose by 0.4 per cent and
1.0 per cent respectively.
While property values in
Christchurch retained some
momentum from the end of 2021,
growth has trended lower over the
past few months.
“Our expectation is the index will
dip further over the coming months
as continued (interest) rate hikes
and tighter credit controls weigh on
market conditions,” CoreLogic NZ
head of research Nick Goodall said.
The national measure of housing
prices was 0.8 per cent higher in
February, a sharp drop from the
January reading of 2.1 per cent.
“Turmeric To Beat Competition” ADVERTISEMENT
SPECIAL OFFER
KORU NUTRITION
Even at retirement age
Dorothy wasn’t looking to slow
down. “I walk around the park
a number of times per week.
We’ve got a whole group that
goes and it becomes a bit of a
competition to see who can keep
up at the front of the group.” she
says.
Dorothy loves her walking
group. It’s a chance to take her
little shih tzu dog Andre for
a walk and for them both to
socialise with their friends.
In addition to her main form
of exercise, Dorothy’s walking
group was also one of her main
social activities. Not wanting
to be seen as slowing down
she began looking for ways to
support her joints - especially
her knees and hips.
“I’d tried a few things in
the past, and then I saw Koru
Joint. I read a bit about it. It’s
got turmeric and a bunch of
others, which I love,” explains
Dorothy.
“Koru Joint has things I have
tried before that helped a little
but now they’re combined in the
specific dose, it seems to make
all the difference. I’ve found
it is far better than just taking
glucosamine or turmeric,” says
Dorothy.
Most joint health supplements,
like the ones Dorothy had tried
in the past only focus on one
area of support. Koru Joint
by Koru Nutrition is different
because it focuses on three
areas to support soothing,
nourishing and lubrication of
healthy joints.
Dorothy is no longer thinking
about slowing down. Now, her
friends are doing their best to
keep up with her!
“If any of the ladies in my
walking group say ‘Slow down,
you’re walking too fast for me,’
I’d say ‘Oh, I’m sorry’ and then
I’d say to them, maybe you
should be on Koru Joint too.”
“I told my friends and now
a number of them have even
begun taking it!” says Dorothy.
Koru Joint is a long lasting
natural formula, harnessing our
proprietary 3 in 1 mechanism
to support soothing, nourishing
and lubrication of healthy joints.
All 3-phases are required to
build on each other to support
long term healthy joint, muscle
and cartilage function.
With tens of thousands of
happy customers and counting,
Koru Joint has set a new bar
Always read the label and use as directed. If symptoms persist see your healthcare professional. Koru Nutrition Ltd, Christchurch.
for natural joint, tendon and
cartilage support.
Koru Joint has been a
bestseller on the internet and is
now making its way into local
pharmacies.
If you’re looking for a long
lasting product to naturally
provide 3 in 1 support, then ask
for Koru Joint in the pharmacy
and experience the difference
for yourself.
Koru Joint works from the
inside out and is best used in
conjunction with Koru FX
topical joint cream.
FOR READERS
33% OFF
KORU JOINT
2 FOR
$79.98
SAVE $40
KORUNUTRITION.CO.NZ
0800 99 99 80
Available in
good pharmacies.