Fendalton in Christchurch offers prestige properties, both historical and new

New Zealand’s second largest city, Christchurch, was highlighted in the international spotlight after a series of devastating earthquakes nearly a decade ago and a terrorist attack on two mosques in 2019.

Along with the destruction of 1,500 buildings and significant loss of life from these events, the city’s resilience, strength, and ability to rebuild have become a global feature of hope.

While the earthquake destruction remains a visual reminder of past difficulties, the city’s downtown area has become a moving sight of renovation, new buildings, cultural creativity and restoration.

Like the rest of New Zealand, it has a warm, friendly and calm atmosphere.

Christchurch borders the hills and the Pacific, and is the second largest city in New Zealand after Auckland, with a population of about 390,000 people. Christchurch, popularly known as the “Garden City”, intersects with the Avon River, and is home to the 165-acre Hagley Park and the beautiful Christchurch Botanical Gardens.

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While a large part of the city is a great value for homebuyers – it is one of the most affordable cities, with an average real estate price of NZ $ 490,000 ($ 298,285) at the end of March 2020, according to the Real Estate Institute. New Zealand Numbers (REINZ) – Historic pockets like the Fendalton suburb provide prestige and refinement, with the average home price well in the six digits.

Fendalton is located immediately to the west of the city center, and is one of the city’s oldest residential areas. It features lush streets full of majestic historic mansions and engineered real estate, favored by professionals, couples, older and retired families.

In an effort to slow the rapid rise in house prices, the Overseas Investment Adjustment Act was introduced in October 2018, restricting the purchase of residential property or lifestyle by people residing abroad. New Zealander, Australian or Singaporean citizens are entitled to purchase residential real estate in New Zealand. Citizens of other countries must meet strict eligibility criteria and apply for approval to purchase.

Foreign buyers who are not from Australia or Singapore who are seeking to buy residential real estate in New Zealand must obtain approval through the Foreign Investment Office (OIO) and meet requirements such as proof of residency in the country for more than six consecutive months, to be resident in the country and bear The related residence category visa.

More information: Amid the Covid-19 crisis, the health of real estate markets varies globally by region

Outside a three bedroom luxury apartment building in Fendalton, Christchurch, New Zealand.

Harcours

Additional rules and restrictions apply to land considered “sensitive” and located in rural areas or near a lake, river, or reserve.

Alison Aitken, real estate agent at Harcours Christchurch City, said it had little impact in Christchurch, where locals were the largest group of buyers, compared to Auckland or a popular tourist destination like Queenstown, where foreign investors were previously a large part of those markets.

“We are a rebuilt city, so we have had many young families coming home, families that have achieved good results abroad or in Auckland, and are ready to have children,” she said.

“They have returned to Christchurch with the primary reasons for the school and lifestyle choices, and the opportunity that comes with being a new city being rebuilt,” she added.

Driving on Waipatare Terrace, Garden Road, or Helmores Lane, in particular, provides a glimpse into the amount of money spent on upscale suburban homes. They represent the birth of the suburb after the earthquake.

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the border

Fendalton is connected to Clyde Road, near Canterbury University, on the west side. The major retail area of ​​Riccarton and Riccarton Road, just south and the Jefferies Road on its northern border. Its eastern border weaves along Idris Road, and Wairarapa Stream crosses several times, Fendalton Road and Avon River.

The main street in the suburb, Vendalton Road, runs through the center of the area, providing a four-lane road lined with trees and bus and bike tracks.

Price range

Before the epidemic, the average price of a Vendalton house was NZ $ 1.165 million, according to Homes.co.nz, making it one of the most expensive areas of Christchurch, not to mention New Zealand, the most prestigious.

Within the suburb, individual streets set higher standards, including Heathfield Street, whose average average sale value was NZ $ 2.717 million, ahead of Pradnor Road (NZ $ 1.868 million), based on statistics compiled by Homes.co.nz.

Asiken said, demand has always been high for homes in Vindalton and its closest neighbor, Merivale, which is located just north of downtown.

Even with the Covid-19 closure restrictions introduced in late March, the Harcourts Christchurch city office has completed the best month ever, even completing a handful of high-end transactions during the isolation period.

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“A lot of this is driven by the comfort and choice of private schools and their quality, especially in high-school areas that are difficult to enter,” said Ms. Aitken. “Vendalton is an old, lush, and lush suburb, and there seems to be always good demand.”

There were sales of over NZ $ 6 million in the suburb, which Mrs. Aitken said was “a good bloody for Christchurch”, with transactions occurring between NZ $ 4 million and NZ $ 5 million in the past few months.

“It is not a daily accident, but we are seeing sales in the area go to the local Christchurch residents, some of them [the New Zealand nationals] She’s back from abroad, and a lot of upscale homes go to people from Sydney, who’ve been taken here to work.

Adam Hazelwood, agent of Bayleys Canterbury Real Estate, said a NZ $ 2 million budget could “push you into a really exciting area of ​​the market.” This money will be enough to secure a house in generous proportions of not less than 350 square meters, including five bedrooms, three bathrooms and a triple garage. She might even have a pond.

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“We have found that we have a good interest coming from other regions of the country, especially Auckland, where you can sell an equivalent home for NZ $ 6 million and buy it at half price.”

Housing

Fendalton is famous for being one of the city’s oldest residential areas. Mona Vale, a historic house dating back to 1899 and built in 1899, is a noteworthy site in the suburb and displays the neighborhood’s heritage.

While the street view in the suburb is still lush, the long passages conceal much of the changing architecture of the area after the original characteristics – which cannot be preserved after the earthquakes – have been withdrawn and rebuilt as high-quality modern architectural wonders.

According to agents, strict building restrictions, such as the minimum block size of 450 square meters to build a multi-housing property, have helped maintain the integrity of the area.

Real estate such as real estate on the market on Fendalton Road illustrates the new wave of contemporary housing in Fendalton. Completed in 2016 by award-winning Mark Prosser Builders, the home includes steel and hardwood in South America, glass and limestone using ground, wind, fire and water features across the 503 square meters floor plan. The value of a luxury home (RV) is 4 million USD.

Who lives there

Mr. Hazelwood said that over the past two years, there has been an unprecedented influx of new residents.

“They come for the quality of housing, lifestyle and schools,” he said. “We have noticed a lot of assimilation into the people who move here.”

New Zealand Statistics data for 2018 shows that approximately 2000 people call Fendalton home, with approximately 25% of families consisting of childless couples and one in three families with two or more children.

Compared to the rest of Christchurch, the percentage of retired people in Vendalton is significantly higher by 35%, but out of those who are still active in the workforce, more than half of the suburban population lists their jobs as manager or professional.

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Luxurious amenities

Christchurch is the commercial center of South Island, and offers many business and business opportunities. Culture is abundant. Historic buildings celebrate the city’s past, while art galleries, cafes, bars and restaurants show a prosperous future with artisan and local talent.

Grit and challenge show after earthquakes, and again after last year’s terrorist attack, the affected areas were rebuilt stronger, which accelerated the process of improvement through innovation, such as building new icons like Turanga, the city’s new central library, designed in style Modern by the Danish company Schmidt Hammer Lassen and is located three kilometers from Vendalton in the city center.

Scheduled to open in October, Bowrie Village will be a Maori cultural center, offering Maori exhibitions and food and Waka tours (boat) on the Avon River, which runs through the heart of Vendalton and Christchurch City, while the new closed Riverside Marketplace opened in 2019, allowing thousands of people Enjoy fresh local produce from Canterbury, 3.5 km or six minutes’ drive from Fendalton.

For retail repair, the city’s shopping district is NZ $ 140 million, which The Crossing, which opened in 2017 after a six-year rebuilding, is a seven-minute drive from Fendalton. Its retail mix includes local and international brands like H&M and designer designer boutiques like Superette.

Christchurch International Airport, located six kilometers and less than 10 minutes from Vendalton, is located on the outskirts of the city and supports domestic and international routes, receiving 6.9 million visitors in 2019 according to its annual report.

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Several schools are located within the Fendalton District, including its main primary school, Fendalton Open Air School and St Andrew’s College, 2 km away, which was established in 1917 and is the only private and coeducational school on New Zealand’s South Island.

St. Michael’s Church School meets grades 1 to 8, offering mixed special education in the city center, a five-minute drive from Fendalton. Cathedral Grammar School is another co-ed private elementary school for grades 1 through 8, while Medbury School, on Clyde Road, 500 meters from Fendalton Road, is one of Australia’s leading private prep schools for boys ages 5 to 13 Years.

For secondary education, the Christchurch Secondary School for Boys is located in Vendalton, providing education for both day students and resident students. The equivalent high school for girls is a five-minute drive, within the neighboring Riccarton suburb. Founded in 1877, it is the second oldest secondary school for girls in the country.

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Notable residents

Ownership records show that Ritchie McCaw, ex-rugby captain in All Blacks and his wife, former international hockey player Jimma Flynn, bought a house in Vendalton at the end of 2016. The couple spent NZ $ 2.5 million on a five-bedroom house complete with sauna, pool and Underfloor heating.

New Zealand businessman Tracy Gough – member of the city’s wealthy Gough family, which owns the Gove Group, an importer of industrial vehicle brands – paid NZ $ 6.825 million for a home on the prestigious Glandove Road, Vendalton in November 2018, setting a new record price for not just the suburb But Christchurch in general.

The five-bedroom house from the thirties of the twentieth century, which occupies about 5000 square meters, occupied millions of dollars in restoration and renovation, and comes with many living rooms, a spa and a saltwater pool. After the purchase, Mr. Goffe told local media that the drug was a “work of art” and that he fell in love with her as a child, as he was roaming his way to school.

The living room of a luxury three bedroom house in Fendalton, Christchurch, New Zealand.

Harcours

Prospects

REINZ’s latest report on housing values ​​in the country shows that, as a whole, New Zealand has experienced 12 large months, and the average home price has increased by 13.7% as of the end of March.

Within the data, eight regions hit record new record prices, including Canterbury (where Christchurch is located), as property values ​​increased 6.8% to NZ $ 490,000, compared to NZ $ 459,000 at the same time last year.

However, the number of transactions decreased by almost 5%, according to REINZ numbers, although March quarter data only took six days of New Zealand’s closing period for level 4. The movement restrictions, some of the most stringent in the world, enabled homeowners to list Their property is for sale, but searches were only possible via online means or virtual tours.

Click to read more luxury real estate news in New Zealand

REINZ Bindi Norwell CEO indicated that March was a particularly active month for residential property across the country, marking four consecutive months of high average prices.

“What we can say is that Covid-19 hit the shores of New Zealand, and the real estate market was in a strong growth period,” she said after the report was published.

“The impact will depend on a large number of factors, including the level of unemployment, levels of consumer and business confidence, the ability of people to access financing (and their mortgage financing) and the time the wider economy takes to recover. Ownership is a long-term investment and the market will recover; however , The question is, how long does it take to recover. “

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