What's happening with Christchurch house prices?

Council area of Canterbury

Explore Christchurch's property market for the latest trends, house prices, market cycles, rental yields, and top investment suburbs

Author: Ed McKnight

Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.

Reviewed by: Laine Moger

Journalist and Property Educator with six years of experience, holds a Bachelor of Communication (Honours) from Massey University.

Last Updated: 24 Mar 2025

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What's happening to Christchurch house prices?

The average price of a Christchurch property is $769,984 (CoreLogic, February 2025).

Quick Facts

The average price of a Christchurch property is $769,984 (CoreLogic, February 2025)
Over the last 3 months property prices in Christchurch have gone up 1.16%
Christchurch property prices increased 4.88% per year (on average) in the 20 years between February 2005 - February 2025 (REINZ)
The average rent in Christchurch is $550 per week (Tenancy Services, November 2024)

How are Christchurch property prices changing?

Christchurch house prices soared after the Covid-19 pandemic began. House prices started out 37% below the eventual peak of the market.

Where is Christchurch in its property cycle?

At the absolute bottom of its property cycle, Christchurch was 22.80% undervalued.

Christchurch suburb prices

I track the value of 87 suburbs in Christchurch. The most expensive suburb is Scarborough, which has an average house value of $1,818,750. While the most affordable suburb is Phillipstown, which has an average house value of $458,550.

Over the last 24 months of all Christchurch suburbs (February 2023 - February 2025, Spreydon had the fastest-growing house prices. They have gone up 6.77% over that period.

The suburb that fell the fastest over that period was Kennedys Bush. Property values in this suburb fell by 1.02% over those 2 years.

What is the Christchurch rental market like?

Here's how rents are changing in Christchurch. Over the last four years (November 2020 - November 2024) the median rent has gone up $140 a week. That's 7.62% a year (on average).

Are properties selling above or below CV in Christchurch?

One of the most common questions I get asked is: “Ed, are properties selling above or below their Capital Value (CV)?”

Where do house prices grow the fastest in the Christchurch property market?

Where do house prices go up the fastest in Christchurch?

Which suburbs in the Christchurch property market have the highest yields?

Gross yields vary widely depending on which suburb you chose to investigate.

Other property markets to look into

If you found this article useful, then you might also like our analyses on the other property markets in New Zealand. You can read all about the Canterbury property market here.