Million dollar properties take off in Christchurch
Tuesday 23 March 2004
What is believed to be Christchurch's most expensive residential property is on the market with a price-tag of $5 million.
By The LandlordTurawai – meaning running water – at 53 Fendalton Road, is set on 2376sq m of land, bordered by the Avon River and Mona Vale gardens.
The house dates from the early 1900s and has a group four heritage listing with the Christchurch City Council. It has been renovated twice, most recently by the present owners.
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There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
Take note, investors: It is "quite possible" fixed rate mortgages have hit their lowest point in this cycle, according to economists at ASB.