Property Management

Boom time for New Brighton

Property buyers have suddenly discovered Christchurch's forgotten seaside suburb, New Brighton.

Tuesday, September 30th 2003

Real estate agents are frightened to put a price on properties coming on to the market in Marine Parade, which runs along the seafront.

New Brighton prices are spiralling, especially for properties with a sea view, as the seaside suburb is at last recognised for its potential.

Trade union organiser Joe Davies and his partner, Kim Burridge, moved there about eight years ago when they bought a small property two blocks south of the mall for $82,000. Last week they were still recovering from the shock of selling it for $282,000 – more than twice the government valuation.

And it wasn't a fluke. While the pair were ecstatic about their good fortune, a property six doors away went up for auction on Friday. It, too, covered about 1000sq m and the government valuation was the same, but the competition was so great the knock-down price was a whopping $325,000...

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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