Christchurch is catching the eye of buyers across New Zealand. While some major centres are still recovering from post-Covid slowdowns, the city’s housing market is showing steady growth and near-record values, making it an attractive place to buy.

Nearing Post-Covid Peaks

The average property value in Christchurch is now $798,000, just $4,000 below its June 2022 peak of $802,000. Over the past three months, values have risen 1.4%, and year-on-year growth sits at 2.7%, one of the strongest results among the country’s main centres.

This steady rise puts Christchurch ahead of cities like Auckland and Wellington, where full recovery isn’t expected until 2028 and 2031 respectively.

Why People Are Choosing Christchurch

Several factors make the city appealing for buyers:

Affordability: Christchurch’s median value of $704,623 is below both the national median of $819,921 and Auckland’s $1.07 million, allowing buyers to get more for their money.
First-home buyers leading the market: Around 35–40% of recent sales have been to first-home buyers, particularly in suburbs where homes are priced under $700,000.
Mortgage rates easing: With the Official Cash Rate at 3.25% and some fixed mortgage rates below 5%, buyers are enjoying more certainty.
Lifestyle and space: Christchurch offers larger homes and sections compared to higher-priced cities, making it attractive for families and those upsizing.

Market Dynamics

Listings remain at historic highs, which means plenty of choice for buyers.

Entry-level homes move quickly, especially among first-home buyers.
Mid-range homes ($800,000–$1.3 million) are popular with families, driven by schooling and lifestyle needs.

Investors are also noticing changes — rental supply is up 20% year-on-year, stabilizing rents and creating more options for tenants.

Christchurch vs. Auckland

Christchurch is recovering faster than Auckland. While Christchurch could reach its 2022 peak by mid-2025, Auckland is still $280,000 below its record high and may not fully recover until 2028.

This gap highlights why buyers are increasingly considering Christchurch as a more accessible and stable alternative.

Outlook

Economists expect steady, modest growth over the next year — likely around 1–2% annually. While this isn’t explosive, it means the market is balanced, resilient, and continuing to attract buyers.

Personal Perspective

Yes, Christchurch is the current “it” city. However, Auckland will be back! It’s tough right now, but it still remains a commercial hub with world-class hospitality. I do not believe the market is going to stay the same — it will always be a great city to be in, for me personally.

Why people are moving to Christchurch