Fastest house sales in NZ

Canty-Westland house sales fastest in NZ

LIZ MCDONALD
Last updated 16:27 14/07/2014

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Canterbury-Westland remains the fastest part of the country for selling a house.

The Real Estate Institute's June figures show homes in the region sold in a median of 33 days. The median (mid-point) price of $409,900 was 12.3 per cent higher than a year ago.

Christchurch's median price was $430,000, 13.2 per cent up from June last year.

Median prices for both the city and region were down slightly from May, perhaps due partly to more sales of cheaper homes to first time buyers.

Institute regional director Tony McPherson said the number of listings was steady, investors were buying, and first-time buyers were ''more active''.

''Vendor expectations remain stable, although offshore vendors appear to be more aggressive on price,'' he said.

A total of 767 homes sold in the region last month, including 483 in Christchurch.

The number of sales in the both the city and the region was about the same as in June last year. In many other parts of the country, sales levels were well down on a year ago.

Listings website real.estate.co said the average asking price on its site for Canterbury last month was $443,730, about the same as May but down from a record set in January.

Hayden Duncan, head of real estate group Harcourts, said the pool of housing for sale in both Christchurch and Auckland was limited, and well-priced properties were selling quickly.

''The market remains driven by a shortage of housing stock and we do not expect to see a drop in prices for the foreseeable future,'' he said.

Median prices in other parts of the region were: North Canterbury country $358,000, Mid-Canterbury $265,000, Timaru $284,000, South Canterbury $207,500, West Coast $180,000. 

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- The Press

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