For the full report and information on the rest of New Zealand, please visit REINZ or
select here: 13 September 2011, (.pdf Format; 422Kb)
Canterbury/Westland
| | Median | Number Sold |
| | Aug-11 | Jul-11 | Aug-10 | Aug-11 | Jul-11 | Aug-10 |
| Christchurch City | $356,250 | $359,500 | $335,000 | 418 | 318 | 416 |
| Mid Canterbury | $241,000 | $264,500 | $255,000 | 52 | 48 | 13 |
| Timaru | $225,000 | $225,000 | $200,000 | 45 | 61 | 37 |
| South Canterbury | $228,750 | $178,000 | $211,250 | 32 | 35 | 24 |
| West Coast | $184,000 | $220,000 | $180,000 | 45 | 33 | 39 |
| Canterbury / Westland | $ 325,000
| $315,000 | $315,000
| 743
| 639
| 623
|
| | | | | | | |
| | Aug-11 vs ... | Jul-11 | Aug-10 | Aug-11 vs ... | Jul-11 | Aug-10 |
| Christchurch City | -0.9% | 6.3% | 31.4% | 0.5% |
| Mid Canterbury | -8.9% | -5.5% | 8.3% | 300.0% |
| Timaru | 0.0% | 12.5% | -26.2% | 21.6% |
| South Canterbury | 28.5% | 8.3% | -8.6% | 33.3% |
| West Coast | -16.4% | 2.2% | 36.4% | 15.4% |
| Canterbury / Westland | 3.2% | 3.2% | 16.3% | 19.3% |
The Canterbury/Westland region recorded the strongest lift in volumes in August following on from a strong lift in July. Of note is the number of sales in Christchurch City in August 2011 being two more than for August 2010, reflecting the continued recovery in the property market following the earthquakes over the past 12 months. Listings continue to be in short supply in Christchurch with well priced properties selling quickly. Towns away from central Christchurch are also experiencing strong sales growth, although listings continue to be in short supply.
Although volumes are rising, prices are remaining relatively steady with only a $10,000 (3.2%) increase in the median price across the region compared to both July and August 2010. Difficulty in obtaining insurance on newly built homes is being reported more frequently of late, as are restrictions on moving existing homes to new sections. It is not clear how long these problems are likely to persist for, however they are undoubtedly making buying decisions more complex at present.
In line with the strengthening volumes the days to sell improved by two days to 35 days from 37 in July. This compares with 38 days in August 2010.
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