Wanted: Three to four bedroom house in the much sought-after Elmwood Normal Schools area of Christchurch. Money available: $600,000. Problem: No one wants to sell.
Sunday, September 28th 2003, 5:55AM
by The Landlord
That's the frustrating scenario facing an English family having to rent as demand for property is outstripping supply.
Immigrants and people shifting to Christchurch from other parts of New Zealand are targeting areas they think have good schools - in particular Elmwood, Christchurch Boys and Christchurch Girls, and Burnside High Schools.
As a result, property prices in those areas are booming.
The same has happened in Auckland, where Auckland Grammar and Epsom Girls have raised prices in those suburbs. To a lesser extent a similar trend is developing in the capital around Wellington College and Samuel Marsden School.
