Christchurch Property Market Quarter One 2019
The latest news in May is that the OFC (Official Cash Rate) is cut to an all time low!
A weakening job market and unenthusiastic inflation has led the Reserve Bank to cut the OCR to an all time low. ANZ and Kiwibank have responded with plans to lower mortgage and deposit rates. This should make conditions attractive for property transactions.
Below is a summary of the main points within CoreLogic Q1 2019 Property Market & Economic Report for Christchurch.
– Market activity levels remain subdued in Christchurch.
– First Home Buyers are the largest individual buyer group, ahead of movers in Quarter 1 2019 at approximately 28%.
– Mortgaged investors accounted for approximately 22% of purchases in Q1 2019
– Small value increases for Christchurch Central and North, East, Hills and Banks Peninsula
– Small value decreases for Christchurch Southwest, Selwyn and Waimakariri
Sourced from Stuff.co.nz and Corelogic