Residential Highlights – October 2011

 

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

select here: 11 November 2011, (.pdf Format; 216Kb)

 

Canterbury/Westland

 

	Median			Number Sold
	Oct-11	Sep-11	Oct-10	Oct-11	Sep-11	Oct-10
Christchurch City	$345,000	$348,000	$338,000	407	439	343
Rangiora	$343,250	$335,000	$260,000	42	57	25
North Canterbury	$371,500	$317,500	$393,500	36	31	14
Mid Canterbury	$258,250	$268,000	$233,000	32	35	25
Timaru	$227,500	$233,750	$235,000	46	40	37
South Canterbury	$195,000	$255,000	$208,250	31	40	18
West Coast	$220,000	$200,000	$190,000	31	49	33
Canterbury / Westland	$329,000	$311,500	$315,000	696	769	533
	Oct-11 vs ...	Sep-11	Oct-10	Oct-11 vs ...	Sep-11	Oct-10
Christchurch City		-0.9%	2.1%		-7.3%	18.7%
Rangiora		2.5%	32.0%		-26.3%	68.0%
North Canterbury		17.0%	-5.6%		16.1%	157.1%
Mid Canterbury		-3.6%	10.8%		-8.6%	28.0%
Timaru		-2.7%	-3.2%		15.0%	24.3%
South Canterbury		-23.5%	-6.4%		-22.5%	72.2%
West Coast		10.0%	15.8%		-36.7%	-6.1%
Canterbury / Westland		5.6%	4.4%		-9.5%	30.6%

 

 

The Canterbury/Westland region recorded at 9.5% drop in sales volume in October compared to
September, the 3rd largest drop across the country. Volumes were down in most markets, with only
Timaru and North Canterbury showing signs of strength. Compared to October 2010 volumes were
up just over 30%, with all sub‐markets apart from West Coast showing noticeable increases.

 

The median price across the region rose by $17,500 in October compared to September, although the
median price eased back in Christchurch City. The largest price increases were in North Canterbury
and West Coast. Compared to October 2010 Rangiora has seen the median price increase by almost
1/3, although the median price in Christchurch City has only increased by 2%.

 

The number of days to sell improved by six days to 32 days compared to September and by 10 days
compared to October 2010.