Residential Highlights – June 2010

 

For the full report and information on the rest of New Zealand, please visit REINZ or

select here: 14 July 2010, (.pdf Format; 123Kb)

 

Canterbury/Westland

 

At $325,000, the median price in the Canterbury/Westland district is an increase on the May median of $303,750, and 10 per cent up on the same month last year (June 2009: $295,000). From 726 in May sales declined further to 710 last month (June 2009: 889).

 

The median price for a house in Christchurch City rose to $340,000 from $323,750 in May (June 2009: $312,500). Sales fell further to 473 from 492 in May (June 2009: 601).

 

The May median price for a home in Rangiora recovered from $277,500 in May to $330,000 last month, well above the median of $272,500 in June last year. But sales numbers remained steady at 29 compared with 30 in May and 32 in June 2009.

 

The median residential property price in North Canterbury rose from $240,000 in May to $283,500 last month (June 2009: $300,000). From 17 houses sold in May, sales stayed steady at 16 last month (June 2009: 24).

 

The median price for a Canterbury Country home continues to decline to $365,000 last month from $387,500 in April and $371,250 in May (June 2009: $373,000). Sales at 40 were down on the 42 properties sold in May (June 2009: 47).

 

The median price of houses sold in Mid-Canterbury increased from $260,000 in May to $279,000 last month, and is also up on the median of $246,000 in the same month last year. And the number of houses sold rose from 31 in May to 32 last month (June 2009: 42)

 

After dropping back to $210,000 in May the median price in Timaru has recovered to $218,000 but this is below the median of $237,500 a year ago. With 40 properties sold the sales volume in Timaru is just up on the 39 sold in May but fewer than the 59 sold in June last year.

 

The median price for a house on the West Coast increased last month to $187,500 from $170,000 in May (June 2009: $205,000). Sales increased to 36 from the 29 residential properties sold in May (June 2009: 30).

 

In Outer Canterbury 237 houses sold last month, slightly up on the 234 sales in May (June 2009: 288). At $285,000 the June median price is an increase on the May figure of $255,000 and the median of $255,250 in the same month last year.