Christchurch

Last updated:August 2023. Sources: Tenancy Services & REINZ.

About Christchurch

The sudden influx of investment in infrastructure, core projects and residential development after the 2011 Earthquake has resulted in a property market that is steadily improving as the city begins to come out of the rebuild. As of late 2019, Christchurch offers the population and jobs demographics of it's North Island main centre rivals at a lower price point.

Data from Christchurch City Council showed that at June 2018, the Christchurch median house sale price was $443,500. The national median was $560,000... a lag that will soon disappear!

The Christchurch market has been relatively flat since the post earthquake housing shortage in 2014. There's been steady sales, but the prices haven't shifted as much as other areas in the country. This provides a huge opportunity for investors to get into the property market while the going is slow. 

We've had repairs to tens of thousands of homes which has brought a lot of our older properties up to date in regards to insulation, heating and ventilation. There are plenty of choices of new builds in and around the CBD with some single bedroom unit title townhouses starting as low as the early $400,000s - unheard of in other main centres!

Christchurch also underwent land zoning changes making larger areas in the city fringe available for higher density development and there are still plenty of old houses on large sections in this catchment. Buying one to rent and hold in view to developing a few townhouses in several years time is not only affordable, but smart. This land will only increase in value as the years go by.

Studying at the University of Canterbury is more affordable when it comes to living costs. We're seeing the numbers boost in enrolments; not only recovering from the earthquake downturn, but beginning to surpass our 2010 numbers as our campus upgrades through years of planning and repair.