House Prices in Christchurch

Modern House, Christchurch
A Modern Bungalow, West Christchurch

Average House Prices in Christchurch’s Suburbs

Location May 2013 May 2012 May 2011 May 2010 May 2009 May 2008
Christchurch West – Avonhead $440,000 $389,000 $371,000 $378,000 $353,000 $372,000
Christchurch West – Fendalton / Merivale / Ilam $560,000 $510,000 $500,000 $525,800 $470,000 $530,000
Christchurch Seaside – Redcliffs / Sumner $497,000 $444,000 $480,000 $500,000 $470,000 $525,000
Christchurch South West – Hallswell / Hillmorton / Hoon Hay $390,000 $372,000 $350,000 $357,500 $329,000 $365,000
Christchurch South West Inner – Addington / Somerfield / Spreydon $330,000 $310,000 $311,000 $290,000 $265,000 $295,000
Christchurch North East – Avondale / Avonside / Burwood / Parklands $336,000 $392,000 $338,000 $321,000 $310,000 $343,000

Market Analysis

The prices above are medians taken over 12 month periods, sourced by the Real Estate Institute of New Zealand.

According to data from REINZ, house prices in Christchurch are continuing to rise in most suburbs. Using monthly median data over 12 months, house prices in Avonhead have risen 18 per cent since May 2008 with most of that gain occurring in the last year. Properties in the North East suburbs (Avondale, Avonside, Burwood, Parklands) have fallen back to more usual levels from the spike in prices in May 2012. Christchurch seaside suburbs of Redcliffs and Sumner are still lower than they were in 2008 when the average property price was $525,000.

Figures from Quotable Value (QV) show that the average property value for the whole of Christchurch over the three months to May 2013 was $424,721. The highest average values were achieved in the Christchurch Hills suburbs with valuations reaching almost $600,000. The lowest average valuations were found in the eastern suburbs reaching just over $320,000.

QV Valuer Daryl Taggart said, “The market continues to go from strength to strength. We have seen some good interest in the middle to upper end of the market where buyers looking to upgrade to their second or third homes are spending $500,000 plus. There is also a noticeable increase in popularity with modern homes in subdivisions built within the last 10 years or so.”

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