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|
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.”
Return to the NZ House Prices page.