Homeowner fights back tears after house of 20 years sells for life-changing sum
A Christchurch property on a large corner site sold for $1.37 million, significantly exceeding the owner's expectations. The sale was driven by high demand for development-ready land near the University of Canterbury.
Why it matters
It highlights the ongoing trend of high demand for land-heavy residential properties in urban areas, which continues to drive up real estate prices.
Share twitter Share linkedin Share link A rare 1628sqm property spread over two titles on Grimseys Road, in Redwood, sold for $1,373,500 after two bidders went head-to-head for it. Photo / Supplied - Christchurch home sells for $1.37m, beating its expected price by $140,000 after a fierce auction.
- Five bidders contested the four-bedroom Redwood property after a $1.23m pre-auction offer.
- Agents say development land, especially near the University of Canterbury, is attracting strong demand.
A Christchurch homeowner had “more than a tear” in his eye after his house of 20 years sold this week for $140,000 more than he expected.
The sale of the well-loved four-bedroom home on Grimseys Road, in Redwood, comes as agents told OneRoof there was strong demand in the city for properties with a decent amount of land.
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