Trends we are noticing are:
“Across Timaru, Ashburton, and Christchurch owner occupiers were most active. Attendance at open homes picked up for properties in the mid-level price range.”
“Economic sentiment and interest rates are having the biggest impact on Canterbury’s market; however, value change is softer in the region than in other larger cities.” – Jen Baird (REINZ CEO)
Compared to March 2022
• Median price down by 2.9% • Sales count down by 13.0% • Days to sell increased by 6 days
Compared to February 2023
• Median price up by 2.3% • Sales count up by 32.7% • Days to sell decreased by 15 days
Median prices for residential property across New Zealand decreased by 12.9% annually. Excluding Auckland, the median house price has decreased by 9.7% compared to last year. Moving from February 2023 to March 2023, the national median house price increased slightly by 1.3%.
Information sourced from REINZ Real Estate Institute New Zealand
Featured photos by SOHO HOME
Δ
