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Property buying completely changed since Kaikoura quake

Author
Newstalk ZB Staff ,
Publish Date
Mon, 13 Mar 2017, 9:59AM
The November quake has completely changed the buying and selling process of property in Kaikoura. (Getty Images)
The November quake has completely changed the buying and selling process of property in Kaikoura. (Getty Images)

Property buying completely changed since Kaikoura quake

Author
Newstalk ZB Staff ,
Publish Date
Mon, 13 Mar 2017, 9:59AM

The November quake has completely changed the buying and selling process of property in Kaikoura.

Although property values haven't dropped in the almost four months since the tremor, real estate agent Joe van Rooyen says vendors and purchasers are much more cautious.

His clients are now swayed by quake damage, EQC claims, insurance and geo tech reports.

He said these topics barely featured in negotiations before the quakes.

"A crack in the plaster board above the window beforehand would have just been taken as the age of the house but now of course is that just wear and tear or is that earthquake damage?"

Despite this, Van Rooyen said although several properties had to be withdrawn from the market, those still for sale are selling for the same prices as in spring.

He said the only change is that there's more demand for rentals, while repairs on damaged houses take place.

 

 

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