Property market analysis for the Christchurch Metro area

Property market analysis for the Christchurch Metro area

Property market analysis for the Christchurch Metro area from New Zealand’s largest real estate group, Harcourts, is available here.

October’s figures show spring has well and truly taken hold of the property market, with sales numbers continuing to improve. Written sales are up by 7.3% on the same time last year and 33% on August – when winter figures were at their lowest.

The average sales price remains fairly constant, up 1% on the same time last year and now sitting at $485, 625. Our sales consultants report that, while good results are regularly being achieved by vendors, there is a realism in the market, which is stopping buyers overcommitting themselves when competing for property.

Stock levels remain buoyant, with more choice available due to construction levels ramping up. There has been a slight dip in the number of new listings in October, but year to date figures show overall there have been 175 more listings, up 3%, and an overall 18% increase in the number of auctions.

ENDS

© Scoop Media