House Prices in Christchurch

Upmarket House, New Zealand
Upmarket House, New Zealand

Average House Prices for Selected Christchurch House Types 2016 – 2019

Property Typemid 2019mid 2018mid 2017mid 2016
House with 5+ bedrooms$822,150$804,700$760,450$715,500
House with 3 – 4 bedrooms$514,450$501,300$500,550$492,000
House with 1 – 2 bedrooms$360,950$341,050$343,500$330,800
Apartments$476,250$476,400$481,250$439,400
Townhouses$470,700$452,900$437,700$438,900
Units$314,950$324,850$324,050$328,800

Market Analysis

The prices in the table above are average asking prices taken over a 3 month period, sourced by Trade Me Property.

This method uses an “80% truncated mean” of the expected sale price. This method excludes the upper and lower 10% of listings by price, and then averages the expected sale prices of the remaining properties.

According to the data from REINZ, Christchurch median house price is $450,000 and has increased by 3.4 percent in the last 12 months to July 2019.

Their July 2019 report noted that, “In Canterbury, the median price increased by 3.7% when compared to the same time last year. Interestingly, the median price increased 37.7% in the Waimate District from $260,000 in July 2018 to a record $358,000 in July 2019. Sales volumes also increased in the region by 14.6% and new listings had a slight 0.8% increase year-on-year. The region is experiencing healthy activity and buyer enquiry, with a median of 45 days on the market to sell, fair prices being achieved, and investors starting to appear again.”

The report continued, “Anecdotally, we are seeing slightly less first home buyers in the market compared to last month but are still seeing good viewing activity at open homes and buyer enquiries coming through. Vendors are still a little slow to align with the market value but are getting fair prices.”

Kelvin Davidson from Corelogic NZ said, “In regards to Christchurch, the ‘mood music’ around the garden city seems to have become a bit more optimistic in recent months, although it’s yet to show through clearly in the hard data – values only edged up by 0.4% in the year to August.”

Estimated Median House Prices in Christchurch’s Suburbs mid 2019

LocationMedian House Price Mid 2019
Fendalton$1,153,000
Redcliffs$760,000
Sumner$732,000
Akaroa$677,000
Ilam$618,000
Burnside$586,000
Northwood$574,000
Avonhead$538,000
Riccarton$508,000
Papanui$487,000
Bishopdale$441,000
Hillmorton$425,000
Spreydon$425,000
Avonside$342,000

The house prices in the above table are derived from CoreLogic, which provides data and analysis for state-owned valuer Quotable Value.

Christchurch house prices by area from 2012 – 2017 are tabled on this page.

Return to the NZ House Prices page.

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