...if you are one of the lucky 5,000 housing lotto winners announced today.
An examination of median house prices in Christchurch is revealing.
In November 2007 the median house price for sales in Christchurch was around $340,000, with just over 1,000 houses sold in that month. It is 2007 values which will be paid out to the 5,000.
The median price then tumbled to around $310,000 a year later with less than 500 sales for the month.
The price recovered and moved to around $325,000 just before the first quake but there were only 400 sales in the month before the quake and 250 sales the month after.
Adolf's advice to Christchurch house owners is simple.
Don't look a gift horse in the mouth. You're getting a bonus from the tax payer of probably twenty grand each - and I don't begrudge you a penny of it.
Updated - just for Gantt, Manolo and Big Bruv
Did you see what a wonderful job John Key did today feeding the five thousand? Give a good man a few loaves and fishes and you never know what miracles he'll perform.
Linda, Honey, Listen!
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