COVID 19 lockdown prompts surge in Christchurch housing market

  • By Hadar 1st Sep, 2021

    The Covid lockdown has been instrumental in jumpstarting the buzz around the Christchurch housing market. Almost every notable realty agency in the city vouches for reinvigorated interest in property listings. The 2021 Level 4 lockdown has trumped the 2020 Level 4 lockdown as per sources from the Real Estate Institute. The market reflected the faith and confidence of optimistic consumers. Business, but not, as usual, is very much greenlit in the Christchurch housing market. Online appraisals, virtual auctions, and sales have become the tried and tested norm for agencies and consumers.

    Christchurch housing market rallies for Spring

    The Level 4 lockdown may have curbed the actual handover process. However, that has not deterred realty agencies who have channeled their efforts via remote productivity models. Consumers have also focused their attention on online listings and sales to a greater extent. Hence, Christchurch housing market predictions suggest greater traction over the uncertainty caused by the pandemic and the consequent lockdown in, comparison to last year.

    The lack of open homes has catalyzed the frequency of direct inquiries. The low-interest rates and inability to travel overseas have also contributed to the exposure the Christchurch property listings receive. Some agencies have already reported 10-times the inquiries they received in pre-lockdown times for similar listings. Thus, agencies are hoping for even more positive, post-lockdown Christchurch housing market updates for property listings that are already live.

    eCommerce to the rescue

    The Christchurch market has demonstrated great adaptability to the Lockdown restrictions by falling back on eCommerce as the primary business model. While the initial response in the market was lukewarm in the early lockdown phases, the process became more streamlined by the second and third stages, and well-established by the fourth. The necessities paved the way for a seamless transition for all from Level 1 to the Level 4 of the Lockdown.

    The fourth stage of the Lockdown has made an end-to-end digital platform transition with equal participation from sellers, buyers, and agencies. Virtual tours and photographs have substituted open homes. The stronger the portfolio, the better the chances of an asset changing hands, sight unseen. According to Christchurch housing market predictions, even homes that are not gaining as much attention are expected to see buyers move in post-lockdown.

    This has fantastically set the stage for the usual Spring-time hustle and bustle for which the Christchurch real estate market is known.

Do You Want To Sell Us Your house?
Request No Obligation Offer!