January 2022 Market News

The Holiday Period has resulted in an Expected market Slowing.

“There is a 5.3% decrease from December to January. Allowing for the usual seasonal trends, this January is weaker than a typical first month of the year.”

Canterbury – In the Headlines

Canterbury had a strong start to 2022, with its median house price increasing 28.1% annually to $650,000 — up from $507,500 in January 2021.

With the removal of the Auckland and Waikato border restrictions in December, interest from out-of-town buyers — particularly those from larger cities, has been high.

More working professionals are entering the Canterbury market and taking advantage of the region’s relative affordability and employment opportunities.

Compared to January 2020
• Median Price up 28.1%
• Sales Count down 36.4%
• Days to Sell decreased 2 days

Compared to December 2021
• Median Price down 4.4%
• Sales down 55.7%.
• Days to Sell increased 4 days

With the possibility of expatriates also returning to New Zealand, Canterbury may continue to see an upward trend due to affordability in comparison to other regions.

*Sourced from REINZ (Real Estate Institute New Zealand)