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.

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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