28 Dec 2013

Auctions rise in Christchurch

3:50 pm on 28 December 2013

The largest real estate agency in Christchurch has reported a leap in auctions as the housing market maintained its momentum in the lead-up to Christmas.

Harcourts, which handles 60% of the houses sold in the city, says it sold 19 more properties at auction this month compared with December last year.

Recent figures from the Real Estate Institute show house prices in Christchurch have increased by 12.2% this year.

Harcourts Holmwood chief executive Tony Jenkins says demand is not letting up, and vendors are preferring to sell by auction in order to get a market price.

Mr Jenkins expects the strong demand for housing in Christchurch to continue in the New Year.