“However, the usual holiday slowdown was less evident and there were reports of sales activity right up until Christmas.
The latest changes to bank lending criteria are having a negative impact on the number of buyers, with some leaving the market after their pre-approvals were reduced or pulled altogether.” Jen Baird, REINZ CEO.
“Canterbury saw its median house price increase by 25.9% in December 2021, reaching $680,000.
Although securing finance is difficult, the entry level price in the Canterbury area is still achievable for first home buyers. Investor numbers are also steady — some investor-developers are looking for opportunities to renovate and develop property.” Jen Baird, REINZ CEO.
Compared to December 2020 • Median Price up 25.9% • Sales Count down 27.5% • Days to Sell the same
Compared to November 2021 • Median Price down 0.9% • Sales down 14.3%. • Days to Sell increased 1 days
*Sourced from REINZ (Real Estate Institute New Zealand)
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