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Canterbury Property Pulse factsheet – June 2012

Posted on: July 24th, 2012 | Filed in Canterbury Property Market Factsheet

The Canterbury region property pulse factsheet for June 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales across the Canterbury region at 751 fell significantly in the month on a seasonally adjusted basis, it was however up 57% up as compared to a year ago. The inventory of unsold houses on the market fell further to just 16 weeks, well below the long-term average of 32 weeks of equivalent sales. This continues to demonstrate the shortage in the region and certainly favours sellers in the market.

The stratified mean sales price for properties sold in Christchurch at $373,109 was up 9% as compared to a year ago, and up from the prior month. There has certainly been a strengthening of prices through all of 2012 in the region as inventory and listings have dropped. The asking price expectation of new listings was up by 9% as compared to a year ago at $389,761.

The level of new listings coming onto the market in June at 1,205 was in line with the prior month and 20% up as compared to a year ago.

 

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