Christchurch Market Watch
REGIONAL OVERVIEW
The latest residential property fi gures from Harcourts show that there was a lift in the Christchurch market in April
with written sales up 16.1% compared to last year. After the stock shortages of the past few years, the additional
inventory now available is fuelling a greater level of buyer activity than usual for this time of year.
New listings in April were down 15.2% on last year and down 23.3% on last month. This is a combination of the typical
slowdown heading into winter, and an indication that the rate of new builds and earthquake-repaired homes coming onto
the market is slowing down. However, inventory levels are still up 27.0% compared to last year so this should not have
much impact on the market.
Average sale price in April was up 11.0% compared to last year to $529,436. This is the highest average sale price
recorded by Harcourts in the past fi ve years. The higher value is a refl ection of the volume of sales of high-quality
properties, which continue to attract a premium in the garden city.
ENDS