Market News
Kelleher Update May
We're thrilled to bring you updates on exciting properties and events in the real estate scene. We’re delighted to share the latest on our Beachside Sumner sales campaign, where stage two is now live and these exceptional coastal apartments are soaring in popularity.
Additionally, we'll recap the recent April sales in Christchurch and compare them to this time last year. Plus, don’t miss out—we are moving from Montreal Street to our new location on Salisbury Street. Check out our newest listings and recent sales. Dive in and stay informed with us!
The volume of residential sales in Christchurch City is similar to this time last year; however, we are seeing an increase in style in how we are living.
Residential Sale Statistics Christchurch April 23 vs April 24
Some surprising increases:
- Apartments and cross-lease properties are up 5% in volume.
We are buying slightly larger floor area properties by 14% but with similar land sizes. - As is' sales accounted for 21% of the market and increased by 36% compared to this time last year.
Some decreases in statistics:
- Section sales volumes have dropped by over 55%; however, the average sale value has grown by 7%, reaching an average of $490,000.
- Freehold properties accounted for 81% of the market this time last year but have now decreased to 69%, indicating an uptake in apartment and townhouse living.
Please feel free to reach out to Jeremy to discuss market trends.
We are thrilled to share an exciting update on our Beachside Sumner sales campaign!
Beachside, is under way on the high-profile corner site of Marriner Street and the Esplanade. It will be completed with six separate buildings, with work programmed to commence in June 2024.
Here’s what’s happening:
Strong Interest: Prospective buyers are drawn to the prime location—Sumner Beach just across the road—and the promise of an enviable lifestyle.
Architectural Excellence: Renowned architects Roger Walker and James Lunday have crafted coastal apartments with modern amenities, creating a unique blend of comfort and style.
Metropol Magazine Feature: We’re proud to announce that Beachside Sumner graced the cover of the Metropol Local Magazine and is in the latest issue here.
With initial sales underway and construction on the horizon, this development is poised for success. Thank you for being part of this journey!
We are on the Move!
We are thrilled to announce that we have sold our current office building on Montreal Street and will be moving to a new, modern, purpose-built creative agency building in June situated at 209 Salisbury St, Christchurch Central
This growth is fitting as we have successfully sold over 25% of residential homes on Salisbury Street, demonstrating our strong market presence in the City.
This move marks a significant milestone for us as we continue to expand and innovate.
Hannah and I extend a heartfelt thank you to the entire team for their hard work and dedication during this transition period. Your efforts have been instrumental in making this move possible.
In addition to our new office, we are proud to highlight the impressive growth of our sales team. Our dynamic team are Sam Ansell, Forbes Howie, Jeremiah Thompson, Amy Harrison, Shaun Higgins, and John Ross. We are also excited to welcome three more sales team members to the Kelleher family this year, further strengthening our capabilities and market presence.
Stay tuned for more updates and thank you for your continued support!