23/06/2026
📊 REINZ has released its May 2026 market data.
Canterbury’s median house price increased 6.6% year-on-year to $725,000, with properties taking a median of 41 days to sell.
REINZ Chief Executive Lizzy Ryley notes that first-home buyers and owner-occupiers remained the most active buyer groups throughout the month. Vendor expectations varied, with some sellers pricing realistically for current market conditions while others remained slightly above market levels. Open home attendance was mixed, with some properties attracting strong buyer interest and others experiencing more modest enquiry. Auction activity remained steady, with properties continuing to be brought forward, highlighting buyers’ willingness to act when the right opportunity arises. Market sentiment was supported by stable economic conditions and active buyer participation, while the seasonal slowdown in new listings has begun to emerge. Broader factors, including the upcoming election, global uncertainty and inflation, appear to be influencing vendor confidence. Looking ahead, local salespeople expect market conditions to remain relatively steady over the coming months, with little change anticipated until later in the year.
Source: REINZ Market Intelligence Report – May 2026
