PHOTO: GRENADIER REAL ESTATE This house in Fendalton Road was an ‘as is, where is’ sale when owner David Bremner bought it three years ago. The family is now onselling the house having decided not to upgrade.
Only in Christchurch is there a strong market for “as is, where is” houses – and a lot of these properties are in the expensive suburb of Fendalton.
But it’s not just owners taking their insurance claim and EQ payouts finally deciding to move out. Some of these houses are now being sold for the second time in the nine years since the 2011 earthquake, with no improvements made.
And in some cases, the new owners have no intention of undertaking expensive renovations – they just want to land bank.
READ MORE VIA STUFF