Transaction activity strengthens as market starts to stabilise

The market is moving into a new business as usual state in Christchurch as the region moves on from a solely rebuild focus, with more properties changing hands and CBD rents flattening off.

  • Annual visitor numbers increased by 0.2% compared to September 2017 figures, contrasting the national 0.3% decline
  • Transaction volumes remain elevated with $204 million of property sold in the first half of 2018 (transactions $5+ million)
  • Retail sales had a strong performance in the June quarter with a  4.5% increase compared to June 2017 figures
  • Consenting volumes continue to decline, further cementing that the commercial rebuild market is winding down
  • Vacancy has declined since 2017 with positive CBD stock absorption