Christchurch, Canterbury Real Estate Market 2019
The Real Estate Institute of New Zealand (REINZ) for January has found 14 out of 16 regions experienced annual increases in median price for residential properties, including 5 new record median prices.
Currently the Canterbury market has seen a slower start to the year than previously, nothing drastic but nonetheless a slower market which arguably presents a strong opportunity for purchasers to not drown in competition.
From REINZ the statistics below outline the change for selling property during the start of 2019.
Compared to January 2018
• Median Price down 0.7%
• Sales Count down 1.8%
• Days to Sell increased 8 days
Compared to December 2018
• Median Price down 5.1%
• Seasonally adjusted median price down 1.7%
• Sales Count down 19.8%
• Days to Sell increased 19 days
A five year median price snapshot for Canterbury
Our interpretations is the Christchurch City market is steady and perhaps the outlook could be promising.