The latest Capital Values in Christchurch have been released and are up only 1.1% from August 2016. This is consistent with the flat property values seen in the last few years. The median HomesEstimate in Christchurch is now $445k. The largest increases were seen in Christchurch’s eastern suburbs Sumner and Redcliffs, where the median CVs increased by 12.1% and 6.8%, respectively.
This contrasts with Ilan, Avonhead and Harewood, where CVs decreased by over 3%. It is important to remember that capital values are only an estimate of a property’s value at a point of time and these large changes highlight how out of date these can become. For a more accurate and up-to-date estimate of a property’s value, we suggest using homes.co.nz’s HomesEstimates.
These are calculated each month using up-to-date sales information and track trends in your area. Take a look on homes.co.nz to see your new CV and how your property performed against the rest of your neighbourhood!
