House Prices in Christchurch

Modern House, Christchurch
A Modern Bungalow, West Christchurch

Average House Prices in Christchurch’s Suburbs

Location May 2015 May 2014 May 2013 May 2012
Christchurch – East $355,000 $344,000 $325,000 $300,000
Christchurch – Hills $649,000 $626,000 $597,000 $554,000
Christchurch – Central and North $556,000 $535,000 $492,000 $441,000
Christchurch – Southwest $453,000 $436,000 $392,000 $355,000
Christchurch – Banks Peninsula $485,000 $456,000 $502,000 $433,000
Christchurch City $474,000 $457,000 $425,000 $386,000

Market Analysis

The average property values sourced by Quotable Value Limited.

According to data from Quotable value, house values in Christchurch are continuing to rise at a steady rate.

Regional Director, Tony McPherson commented that, “first home buyers are becoming more active in the market, with continuing good demand from investors. Vendor expectations remain stable, with the growth of sales by auction helping to inform price expectations more generally. The pool of listings is continuing to increase and more homes are repaired and come to market.”

Figures from Quotable Value (QV) show that the average property value for the whole of Christchurch in June 2015 was $474,269. The highest average values were achieved in the Christchurch Hills suburbs with valuations reaching over $642,000. The lowest average valuations were found in the Eastern suburbs reaching just over $357,000.

According to data from REINZ, the median property sale price in May 2015 was $422,000.

REINZ Director, Jim Davis, said, “there are more first home buyers in the market as more property becomes available, although the number of listings has declined as winter approaches. The market is balanced…with volumes steady and prices easing back slightly.”

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