Timaru's housing market continues to fluctuate.

Overall, the volume of sales in Timaru fell last month compared with June, the latest figures from the Real Estate Institute of New Zealand (Reinz) show.

Fifty-seven houses were sold, with a median price of $270,000 - a jump from the $230,000 median figure for June.

Sales volumes compared to 67 sold in June and 61 in July 2011. However, figures across the five-year period for July are sporadic.

Median house prices dropped to $190,000 in July 2010 and edged up to $225,000 in July 2011.

South Canterbury's Reinz district forum leader Warwick Jones said the $270,000 median figure was unusual.

"I'd suggest out-of-town and offshore sales. We don't traditionally see those numbers."

Mr Jones said he had calculated 12 sales in the $200,000 to $300,000 bracket and the majority over $300,000. "There's been hardly any sales under $200,000."

For all of South Canterbury south of the Rangitata River, the median sales price was $208,250 in July - up from $205,500 in June and $178,000 in July 2011.

Nationally, sales rose about 20 per cent with continuing strength in Auckland and Christchurch. House prices were up 4.6 per cent in the 12 months to July. The national median price eased by $11,000 to $361,000.

- © Fairfax NZ News

Comments