Values of homes in Christchurch have risen by an average of 5.2 per cent in the past year – the biggest annual increase since 2015. READ MORE:* Auckland house sales for $2 million no longer an exception: Barfoot & Thompson* Christchurch house prices reach record high as low interest rates boost demand* Cheaper suburbs leap ahead as leafy suburbs languish in Christchurch housing market“There’s been a whole range of people. “The interest rates are a bit of a double whammy. Banks are now offering one-year mortgage terms at interest rates as low as 2.5 per cent for buyers with a 20 per cent deposit. Davidson said that although interest rates were low, banks were still lending conservatively, looking at buyers’ incomes and ability to pay if interest rates went back up.

Source: Stuff November 05, 2020 06:00 UTC