Upmarket House, New Zealand
Average House Prices for Selected Christchurch House Types 2016 – 2020
| Property Type | mid 2020 | mid 2019 | mid 2018 | mid 2017 | mid 2016 |
|---|---|---|---|---|---|
| House with 5+ bedrooms | $904,650 | $822,150 | $804,700 | $760,450 | $715,500 |
| House with 3 – 4 bedrooms | $548,200 | $514,450 | $501,300 | $500,550 | $492,000 |
| House with 1 – 2 bedrooms | $380,250 | $360,950 | $341,050 | $343,500 | $330,800 |
| Apartments | $475,050 | $476,250 | $476,400 | $481,250 | $439,400 |
| Townhouses | $472,850 | $470,700 | $452,900 | $437,700 | $438,900 |
| Units | $328,400 | $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 $495,000 and has increased by 11.5 percent in the last 12 months to August 2020.
Their September 2020 report noted that, “The (Canterbury) region saw the lowest level of total inventory (2,427) since records began. First home buyers are very prevalent in the market, however, they are finding finance approval from the banks to be very slow.”
The report continued, “High levels of enquiry continue across all price brackets, with buyers keen to purchase a home. There are approximately 30% more investors in the market compared to last month who are keen to invest and take advantage of the low interest rates.”
The third quarter report from Corelogic NZ stated, “Christchurch is seeing very similar Buyer Classification trends to the other main centres, with first home buyers and mortgaged investors active, but movers quiet.”
Estimated Median House Prices in Christchurch’s Suburbs mid 2020
| Location | Median House Price Mid 2020 |
|---|---|
| Fendalton | $1,136,000 |
| Redcliffs | $780,000 |
| Sumner | $755,000 |
| Northwood | $716,000 |
| Ilam | $673,000 |
| Akaroa | $672,000 |
| Burnside | $619,000 |
| Avonhead | $577,000 |
| Riccarton | $531,000 |
| Parklands | $523,000 |
| Papanui | $519,000 |
| Hillmorton | $481,000 |
| Bishopdale | $480,000 |
| Spreydon | $443,000 |
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.