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Christchurch is a great location for property investment for several reasons: it’s extremely affordable with a median price around half that of Auckland’s and there’s also huge potential for growth, with new developments constantly springing up in and around the much-improved city centre.
Despite all the potential here, you still need to be sure that you pick the right location when you buy. To help you do that, here are three locations in Christchurch that are excellent for property investment.
1. City centre
In early 2018, there was $13 billion dollars worth of commercial development slated for wider Christchurch, with much of it concentrated in the city centre. These high-quality office, hospitality and retail developments will continue to transform the centre of Christchurch into a fantastic place to live, work and play,
Alongside these commercial developments, there are countless new apartment and townhouses being built here, which are surprisingly affordable (for now). The median price here is under $400,000 according to Homes. This low price point means there is huge potential here for price growth and high rental yields in the very centre of one of New Zealand’s leading cities.
Richmond is just northeast of Christchurch’s centre, within walking distance to everything that makes the city great. There are several high-quality brand new developments in the area, which has a low median value of just $357,000, according to Homes.
This is a great place to live, near the city where tenants love to be. Investments here are likely to have low vacancy rates, solid rental yields and high-quality tenants.
3. St Albans
St Albans is another area where tenants love to live – just 2km outside of the city centre. Prices are a little higher here with an average of roughly $500,000, as the area is in extremely high demand.
Despite that, it’s still possible to find affordable townhouses and apartments here that make fantastic property investments. To find out more about the exciting property investment opportunities here in Christchurch get in touch with the team here at Williams Corp today.
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