National Introduction The Real Estate Institute of New Zealand (REINZ) for January has found 14 out of 16 regions experienced annual increases in median price for residential properties, including 5 new record median prices.
Canterbury Currently the Canterbury market has seen a slower start to the year than previously, nothing drastic but nonetheless a slower market which arguably presents a strong opportunity for purchasers to not drown in competition.
From REINZ the statistics below outline the change for selling property during the start of 2019.
Compared to January 2018 • Median Price down 0.7% • Sales Count down 1.8% • Days to Sell increased 8 days
Compared to December 2018 • Median Price down 5.1% • Seasonally adjusted median price down 1.7% • Sales Count down 19.8% • Days to Sell increased 19 days
A five year median price snapshot for Canterbury
Our interpretations is the Christchurch City market is steady and perhaps the outlook could be promising.
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