27-33 Harewood Road, Papanui, Christchurch

These elegantly designed townhouses feature two and three bedroom options with either a single garage or off-street parking.

Located in the midst of Papanui, Christchurch, the development presents an exciting opportunity for buyers and investors alike. Perfectly designed for the site, the homes feature an open plan living and kitchen area that connects well to the outdoor space.

With neutral decor and quality fixtures and fittings throughout, situated in a great location close to many amenities, these homes really present a quality of home that is hard to beat.

Harewood Road puts you right at the centre of all that Papanui has to offer. Zoned for St Andrews College, Rangiruru Girls School & Papanui High School - it is ideal for growing families and an attractive prospect for future tenants.

Bordering St James Park and just a minutes walk from several large domains, it provides a great opportunity to explore the many green spaces suburban Christchurch has to offer. Ten minutes to the CBD and the airport, its location keeps you at arm’s reach of all Christchurch’s amenities.

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Location

27-33 Harewood Road, bordering St James Park and just a minutes walk from several large domains, it provides a great opportunity to explore the many green spaces suburban Christchurch has to offer. Ten minutes to the CBD and the airport, its location keeps you at arm’s reach of all Christchurch’s amenities.

• Mitre 10 Mega Papanui 160 metres

• Northland Mall 550 metres

• Christchurch CBD 4.9 kilometres

• Christchurch International Airport 6.5 kilometres

Note: Cost to own and cashflows are approximate examples only. Actual results achieved will vary based on purchase price, interest rate, deposit %, providing carparks, providing furniture, insurance, property rates and rental rate. Please download free analysis software to complete your own analysis. Our team can help you with this, so don’t hesitate to contact us.

Investment Analysis

In recent years, Christchurch has undergone a remarkable transformation, driven by extensive reconstruction efforts following the earthquakes of 2010 and 2011. This revitalisation has sparked a surge in construction and infrastructure projects, creating numerous investment opportunities within the residential property market.

Compared to major urban centres like Auckland and Wellington, Christchurch offers a relatively affordable property market. This is particularly advantageous in a high-interest rate environment where entry-level investment in other main cities can be financially challenging for many investors. For example, as of May 2024, the median house price in Christchurch was $678,000, significantly lower than Auckland's $1,212,000 and the national median of $770,000.

Investing in property in suburbs like Papanui presents a compelling opportunity, mainly due to its convenient access to a wide range of local amenities. Situated on the edge of the central city, Somerfield provides residents easy access to supermarkets, cafes, restaurants, and recreational areas, all within walking distance or a short commute. This accessibility enhances residents' quality of life and increases the area's desirability for potential tenants and buyers.

Investors considering properties within this development can expect attractive rental yields of up to 5.3%, which is competitive compared to the Christchurch average of around 4.0%.

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