PROPERTY MARKET

CHRISTCHURCH

+$33pw

12 MONTH RENTAL TREND

36

DAYS TO SELL

+14%

12 MONTH PRICE TREND

$685,000

MEDIAN PRICE

CHRISTCHURCH

Population: 392,100 (2021)

Forecast Population: 423,800 (2028) and 449,100 (2038) source Statistics New Zealand

$ Medium Price: $685,000 (Source REINZ May22)

12 Month Pricing Trend: +18%

12 Month Rent Trend: +$33 p/w (3 brm)

Tertiary Education:
University of Canterbury, Canterbury Tertiary College, New Zealand Tertiary College

Industries:
Agriculture, Dairy, Horticulture, Manufacturing, Construction, Retail sector

Christchurch has a new vibe; it is a new City coming into its own. Following years of demolition, interruption and uncertainty since the 2011 earthquakes, we are now starting to see a modern new City emerge from the ashes.

Christchurch sits with the Pacific Ocean to the East, leading out from Banks Peninsula; the foothills of the Southern Alps to the West and rolling farmland, known as the Canterbury Plains in between. Christchurch is an adventure playground, with easy access to outdoor activities in a stunning environment.

The City is seeing a construction and investment boom since the earthquakes. Core projects and residential development have resulted in a strong lift in the property market and significant investment from outside the City.

Owner occupiers have returned and it has become an affordable major city in New Zealand with house prices still considered well below the NZ medium. We expect this gap to close in the coming years.

Across Christchurch and wider Canterbury, there are many development pockets appearing and expanding. Large areas have been re-zoned making city fringe land available for higher density housing. Pocket communities are growing outside the city perimeter with owner/occupier and tenants enjoying newly built communities.