Property sales down in December

“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)