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Canterbury Property Pulse factsheet – May 2012

Posted on: June 18th, 2012 | Filed in Canterbury Property Market Factsheet

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

Property sales across the Canterbury region at 972 rose very sharply in the month on a seasonally adjusted basis in May, it was also 58% up as compared to a year ago. The inventory of unsold houses on the market fell further to just 21 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 $359,900 was up 5% 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 5% as compared to a year ago at $383,504.

The level of new listings coming onto the market in May at 1,297 was well up on prior month and 9% up as compared to a year ago.

 

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