Christchurch hillside suburb sets record as wealthy buyers pay for top spots stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
Nationally, price growth was expected to slow because this year’s tax changes reduced the profitability of property investment. The market had been less busy in April than in March, with fewer home appraisals and valuations, he said. Debi Pratt, who owns a branch of Tall Poppy Real Estate in Christchurch, said demand dropped off suddenly when the changes were announced. Auctions were also not clearing as many homes, she said. “I’ve noticed a marked reduction in attendance at open homes, and offers on property.”
KIRK HARGREAVES/Stuff
New tax rules for property investors are expected to cool the market.
UNSPLASH
Real estate agents are all over the map when asked to predict whether the colder weather will see a cooling off of the housing market.
The best time to sell a property has historically always been spring, when buyers were neither sunning themselves at the bach, nor on a three-week mid-winter escape to Europe. Some houses simply can t be made to look their best in the dark and cold of winter. But that’s in a normal year – and we all know that things are far from normal right now. After months of prediction-busting house price rises, will we still see a cooling off of listings along with the weather?