62 Derby Street, Merivale, Christchurch
Presenting a collection of 15 pristine, never-before-seen residences, perfectly situated a mere block away from the bustling Bealey Avenue. Boasting an array of options, these homes offer a selection of either two or three bedrooms to cater to diverse preferences. Comprising two-well appointed bathrooms each, alongside the convenience of an internal access garage or an allocated car park, these homes prioritize comfort and practicality.
Meticulously crafted by architectural experts, these homes stand as a testament to timeless design, seamlessly blending into the urban landscape while simultaneously exuding a distinct visual allure. Beyond aesthetics, a profound commitment to sustainability and ease of maintenance is evident in every facet of these residences.
Envision a lifestyle that harmonizes modern living with environmental consciousness - a sanctuary where architectural brilliance meets the demands of practicality. The proximity to Bealey Avenue ensures a vibrant living experience with urban amenities just around the corner, while the tranquillity of your thoughtfully designed abode remains undisturbed.
completion due Q2 2024
Location
62 Derby Street, Merivale, boasts a prime location in Christchurch. Situated in the prestigious suburb of Merivale, this development enjoys a highly sought-after address. Notably, it falls within the school zone for Christchurch Boys’ School and Christchurch Girls’ School.
Merivale itself is renowned for its upscale ambience and access to an array of amenities, including high-end boutiques, fine dining establishments, and lush parks.
Merivale Mall 1.3km
St Andrews College 2.4km
Christchurch Hospital 2.4km
Riverside Markets 2.8km
Christchurch International Airport 9.1km
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 Overview
In recent years, Christchurch's City fringe suburbs have experienced remarkable growth. The city, especially its inner core, has undergone significant reconstruction and revitalization efforts following the earthquakes in 2010 and 2011. These initiatives have ignited a surge in construction and infrastructure development, opening up numerous opportunities in Christchurch's residential property market.
From 2003 onwards, median house prices in Merivale specifically have steadily risen, averaging an impressive 8.0% annual increase. This 20-year growth rate surpassed the citywide average of 7.0%. While a 1% difference may seem insignificant at first glance, the true impact becomes clear when we delve into the numbers.
Imagine an investor contemplating the purchase of a 2-bedroom townhouse at 62 Derby Street for $725,000 or a similar property in a middle-order suburb like Spreydon for $650,000. Undoubtedly, Spreydon is the more affordable option initially. However, assuming the investor has the ability to secure finance for either property, their future self may very well thank them for opting for the higher-priced Merivale property over the next decade.
Based on growth rates of 7.0% and 8.0% respectively, and purchase prices of $650,000 and $725,000, projections indicate that the Spreydon townhouse could appreciate to $1,278,648 in value over the next 10 years, while 62 Derby Street could potentially reach $1,565,221. Consequently, if the investor borrows 100% of the purchase price, choosing Merivale now rather than Spreydon could potentially result in a nearly $200,000 difference in equity over the next decade.
Investment Overview
Strategy: Off the plan Upside: Growth prior to settlement Rent: Unfurnished Deposit: 10% Title: Freehold
Investment Type
Dwelling: Townhouse Growth: High Yield: Moderate Pros: Capital gains before settlement + Low maintenance living
Suburb Performance
Median sale price 10 years: +109% Median sale price 20 years: +235% Capital growth 10 years: 7.65% Capital growth 20 years: 6.23%