House sales nearly halve in Christchurch

9:25 pm on 14 March 2011

Canterbury's housing market ground to a temporary halt after the earthquake in February, with sales slumping 44%.

The Real Estate Institute managed to collect data from 85% of agents in Canterbury, which showed the average sale price was almost 5% lower than in February last year.

But an economist at Goldman Sachs, Philip Borkin, says nationally, the market is showing signs of improving, albeit from depressed levels.