1/60 Somerset Crescent, Spreydon, Christchurch

Located at 1/60 Somerset Crescent, Spreydon, Christchurch, this cross-lease property is a standout opportunity for first home buyers and investors. The residential unit, built in 1993, features two bedrooms, a spacious floor area of 180m², and a single carpark. Its exterior boasts roughcast walls in good condition and an iron roof also in good condition, ensuring durability and low maintenance. The level property contour adds to its appeal, making it accessible and user-friendly.

Over the years, the capital value of this property has seen significant growth, from $285,000 in August 2019 to $430,000 in August 2022, marking a 50.88% increase. This growth trajectory is supported by a HouGarden AVM of $412,500. The latest sale on January 13, 2024, was at $438,000, up from $300,000 on November 10, 2017, highlighting its steady market appreciation. The property's appeal is further enhanced by its fresh paint, both inside and out, an internal access garage, and a fully fenced front courtyard, offering security and privacy.

Education is well catered for, with nearby schools including Villa Maria College, St Thomas of Canterbury College, Middleton Grange School, Christchurch South Karamata Intermediate, and Cashmere High School, among others, offering a range of decile ratings from 3 to 9. This property's location ensures convenience, being just minutes walk from shops, medical facilities, and bus routes, and a short drive to Barrington/Riccarton malls or the city centre.

Updated on April 06, 2024.