House Prices in Christchurch

Modern House, Christchurch
A Modern Bungalow, West Christchurch


Average House Prices in Christchurch’s Suburbs

Location May 2014 May 2013 May 2012 May 2011 May 2010 May 2009
Christchurch West – Avonhead $502,000 $440,000 $389,000 $371,000 $378,000 $353,000
Christchurch West – Fendalton / Merivale / Ilam $638,000 $560,000 $510,000 $500,000 $525,800 $470,000
Christchurch Seaside – Redcliffs / Sumner $567,000 $497,000 $444,000 $480,000 $500,000 $470,000
Christchurch South West – Hallswell / Hillmorton / Hoon Hay $445,000 $390,000 $372,000 $350,000 $357,500 $329,000
Christchurch South West Inner – Addington / Somerfield / Spreydon $376,000 $330,000 $310,000 $311,000 $290,000 $265,000
Christchurch North East – Avondale / Avonside / Burwood / Parklands $383,000 $336,000 $392,000 $338,000 $321,000 $310,000

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, reaching a new record median price in May of $436,000.

REINZ 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 over the three months to May 2014 was $459,617. The highest average values were achieved in the Christchurch Hills suburbs with valuations reaching over $601,000. The lowest average valuations were found in the eastern suburbs reaching just over $396,000.

Property values in Christchurch City have increased 2.5% over the past three months, 7.0% year on year and 21.1% since the peak of 2007.

QV Valuer Daryl Taggart said, There is a lot of development going on, both in residential areas and in the central city. Rents are still high and investors are purchasing rental properties and making the most of the strong demand for rental property.”

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