Why do I feel compelled to invest in Christchurch city?
Primarily it’s to do with the long term investment currently being put back into this city by the Council, central Government and developers. A massive rebuild is in progress which has been designed to create a vibrant community as well as provide an opportunity for locals. I feel that this beautiful city is coming to life, regaining its heart, and attracting people to live here. Below are just a few projects which are getting me enthusiastic and passionate about the future of this city.
The Riverside Market located in the beating heart of the city. Once completed they are projecting up to 10,000 visitors per day, and from all the plans and marketing, it looks like it will be fantastic.
Tūranga: while being the largest public library in the South Island, it is also designed to be so much more than a library – being a place for information, inspiration and entertainment.
Just around the corner, the joys of Margaret Mahy playground has brought the squeals of young life back into the city.
The Metro Sports Centre: finally underway, and once completed, it will be the largest aquatic facility in the Southern Hemisphere.
The Convention Centre is going to be world-class. It already has 65 conventions or exhibitions booked in, which will bring about 54,000 people into the city centre alone.
A multi-functional arena expected to be completed by 2023 which will cater for a range of large scale local, national and international events.
And, numerous privately funded office, retail and hospitality developments.
Growth in the property market will be in places where there are good employment opportunities.
The Justice and Emergency Precinct serves the entire South Island and has approximately 1,000 workers. The Canterbury District Health Board is the largest employer in the South Island, and there is still a lot of new building happening at the hospital. Government Departments are moving into newly built buildings that spread the risk out of a shaky Wellington city, and Canterbury University has seen enrolment numbers climbing again, and has a billion-dollar upgrade in progress. The list can go on.
The quality of the assets being built in this city is bringing people back here. I know that the sales team are reporting more enquiry from out-of-town buyers, and with the Christchurch, population projected to reach a net gain each year of 12,500 for the next four years, that is going to drive growth.
When you look at the low cost of borrowing, with the potential bonus of further interest rate falls if the Reserve Bank decides to lower the Official Cash Rate again later this year; and any capital gains tax being taken off the table, and the 2019 insulation regulations are now behind us, things seem to be converging nicely. With so many facilities, great infrastructure and low-interest rates, it is a no brainer for me to look for my next investment property here in Christchurch.
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