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Market Update – Sales

By Liam O'Boyle

The second quarter of 2012 has seen sales activity continuing to be strong, with over 600 house sales in Christchurch and over 1000 in Canterbury/Westland in the month of May.  Sales volume is the key indicator as to the level of strength in the market place.

Median PriceJune 2012June 2011
Selwyn District$437,500$377,000
Waimakariri District     $350,000$310,000
Rangiora$339,000$301,250
Christchurch City$348,000$330,000

As the median price has increased in all of the above four areas with the greatest level has been in the outer regions; Selwyn, Waimakariri Districts and Rangiora. Christchurch City has had a lesser increase in the median price, rising 5.5% from June to June over the past 12 months.

Strong buyer inquiry is having to compete in a tight selection of properties for sale. There has been no normal seasonal slow down in the market.

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