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Canterbury Property Pulse factsheet – April 2011

Posted on: May 19th, 2011 | Filed in Canterbury Property Market Factsheet

The Canterbury region property pulse factsheet for April 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales across the Canterbury region at 595 rose significantly in the month on a seasonally adjusted basis in April and were down a 16% as compared to a year ago. This clearly shows the devastating impact of the February earthquake on the city of Christchurch and the wider Canterbury region. The inventory of unsold houses on the market rose again to 50 weeks to remain above the long-term average of 33 weeks of equivalent sales.

The stratified mean sales price for properties sold in Christchurch at $329,530 was down 4% as compared to a year ago and down from the prior month. The asking price expectation of new listings was down slightly by 2% as compared to a year ago at $362,597.

The level of new listings coming onto the market in April at 1,126 was again down on prior month and down a significant 32% as compared to a year ago.

 

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