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Median prices for residential property across New Zealand increased by 23.8% from $747,000 in November 2020 to $925,000 in November 2021 — a new record high.
“House prices in Canterbury are rising steadily and reached a record median price in November of $690,000 — up 31.4% year-on-year — the region’s sixth consecutive record median… Buyers are struggling to secure finance, which has resulted in more vendors looking for cleaner offers” – Jen Baird REINZ CEO
With increasing interest rates and difficulty to attain finance 2022 may be a different forecast.
Compared to November 2020
• Median Price up 31.4%
• Sales Count down 15.9%
• Days to Sell decreased 1 day
Compared to October 2021
• Median Price up 3.8%
• Sales Count up 5.8%
• Days to Sell decreased 2 days
*Sourced from REINZ (Real Estate Institute New Zealand)