A modern home on Crichton Terrace, in Cashmere, Christchurch, sold for almost double its RV.
Properties in the sought-after Christchurch hillside suburb of Cashmere are being snapped up as buyers compete against each other to try and get a foot hold into the area.
A high-end home on Crichton Terrace in Cashmere was on the market for just two days when the auction was brought forward after receiving an acceptable pre-auction off.
But that acceptable offer was kicked to touch as two buyers fought it out and the modern four-bedroom, two-bathroom home finally sold for $2.050m – $150,000 more than the pre-auction offer and almost double its RV.
The average property value in Cashmere is $1.09m – above the city-wide average of $755,000 but also well behind the most expensive suburb of Fendalton where the average is $1.665m, according to OneRoof-Valocity data.
Bayleys salesperson Adam Heazlewood, who sold the Crichton Terrace home, said Cashmere was the one suburb that seemed to be bucking the trend and had had a resurgence.
“The demand was immense for that property, but we are finding Cashmere in general has amazing buyer demand at present.”
While not the most expensive or exclusive suburb in Christchurch, he said it seems to appeal to people due to the good schooling and often impressive views it offered over the city.
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