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Canterbury Property Pulse factsheet – May 2011

Posted on: June 16th, 2011 | Filed in Canterbury Property Market Factsheet

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

Property sales across the Canterbury region at 616 fell very slightly in the month on a seasonally adjusted basis in May and were down 12% 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 fell to 44 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 $341,205 was unchanged from a year ago but up from the prior month. The asking price expectation of new listings was up slightly by 2% as compared to a year ago at $365,432.

The level of new listings coming onto the market in May at 1,188 was up slightly on prior month and down a significant 29% as compared to a year ago.

 

 

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