NORTH CANTERBURY MARKET

The North Canterbury median sale price in April was $660,000 being the same as at the end of the previous quarter. May saw quite a significant increase to $715,000 although there was a slight drop in June back to $694,000 as we headed into the cooler months. This is a modest increase of around 6% on June 2022 but approximately a 22% increase from June 2021. A little early to gauge but this could suggest prices are beginning to rebound.

A summary of the North Canterbury listings recorded midway through June Harcourts had 180 listings, this being 28.04% market share, up from 25.99% the previous quarter.

Buyer demand for well maintained properties in the area remains strong with a steady increase in sales over the quarter. North Canterbury recorded 279 sales which was up from 226 sales over the first quarter of the year. June recorded 109 sales which was an impressive increase from June last year which recorded 77 sales. April saw the median days to sell in the area being the least number of days on market in over 6 months. May and June saw a return to between 45 to 49 days to sell.

Rangiora continues to expand with large subdivisions, office and retail development and recreational facilities. It is all well supported with great access in and out of the city.

The thing I keep hearing is there is simply not enough listings to satisfy buyer demand. If you are considering a property change over the coming months now is a great time to talk with one of our experienced team members. They can appraise your home and advise on the best way to take advantage of the rapidly approaching spring market.

Where Our Buyers Come From

Source of buyers

April - June 2023

Hurunui

Rest of South Island Overseas