Residential Highlights – July 2010

 

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

select here: 13 August 2010, (.pdf Format; 138Kb)

 

Canterbury/Westland

  

In the Canterbury/Westland district the median price declined from $325,000 in June to $310,000 last month but is 4.4 per cent up on last year’s July median of $297,000. From 710 sales in June, turnover decreased to 683, well below the 905 in July 2009.

 

The median price for a house in Christchurch City fell from $340,000 in June to $328,250 in July, which is still up on the July 2009 median of $310,000. Sales increased slightly from 473 in June to 482 last month (July 2009: 628).

 

The median price for a home in Rangiora fell back to $289,000 in July from $330,000 in June, but was still above the median of $272,500 in July last year. Sales volumes eased slightly from 29 properties in June to 26 last month compared with 38 in July 2009.

 

The median residential property price in North Canterbury continued to rise from $240,000 in May and $283,500 in June to $320,000 last month and is also up on the July 2009 median of $315,000. From 16 houses sold in June, sales are up slightly at 19 last month, but down on the July 2009 figure of 29.

 

The median price for a Canterbury Country home firmed from $365,000 in June to $367,500 last month but is down on the July 2009 median of $389,000. Sales at 34 were down on the 40 properties sold in June and 41 in July 2009.

 

The median price of houses sold in Mid-Canterbury decreased from $279,000 in June to $235,000 last month, and is also down on the median of $266,000 in the same month last year. And the number of houses sold declined from 32 in June to 29 last month (July 2009: 32)

 

After recovering to $218,000 in June the median price in Timaru fell to $190,000 in July which is also below the median of $226,410 a year ago. With 33 properties sold, turnover in Timaru is down on the 40 sold in June and the 48 sold in July last year.

 

The median price for a house on the West Coast decreased last month from $187,500 in June to $180,750 last month (July 2009: $223,000). Sales eased back to 32 from the 36 residential properties sold in June (July 2009: 31).

 

In Outer Canterbury 201 houses sold last month, down on the 237 sales in June and 277 in July 2009. At $265,000 the median price last month is a decrease on the June figure of $285,000 and the median of $270,000 in July last year.