Authored by the expert who managed and guided the team behind the New Zealand Property Pack
Yes, the analysis of Christchurch's property market is included in our pack
Christchurch's property market in January 2026 sits at an interesting crossroads, with steady demand from migration and major infrastructure projects coming online.
We keep tracking the latest housing prices in Christchurch and update this article regularly so you always have fresh data.
Whether you're a first-home buyer or an investor, understanding the current market balance is essential before making a move.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Christchurch.
So, is now a good time?
As of January 2026, buying property in Christchurch is a "rather yes" decision, meaning conditions are generally favorable but not exceptional.
The strongest signal supporting this is Christchurch's solid population growth, with the city posting the highest net internal migration gain of all New Zealand cities in 2025 at +1,700 people.
Another strong signal is that prices are not overheated, with annual growth sitting at a calm +1.7% rather than a speculative surge.
Supporting factors include easing credit conditions (LVR rules loosened in July 2025), major amenities opening (Parakiore in December 2025, Te Kaha stadium in April 2026), and rental demand that remains robust in key suburbs.
For investment strategies, focus on well-located standalone houses or townhouses in proven rental suburbs like Riccarton, Ilam, St Albans, or Halswell, and plan for a 5 to 10 year hold rather than a quick flip.
This is not financial or investment advice, we don't know your personal situation, and you should always do your own research before buying property in Christchurch or anywhere else.
Is it smart to buy now in Christchurch, or should I wait as of 2026?
Do real estate prices look too high in Christchurch as of 2026?
As of January 2026, Christchurch property prices appear roughly fair to slightly elevated, sitting about 5% to 10% above what pure rent-based fundamentals would suggest, but nowhere near "bubble" territory.
One clear on-the-ground signal is that days-on-market in Christchurch have actually decreased through late 2025, which tells us buyers are active and properties are not sitting unsold for months on end.
Another supporting signal is that listings are up in Christchurch, meaning sellers feel confident enough to test the market, yet prices remain stable rather than collapsing under that new supply.
You can also read our latest update regarding the housing prices in Christchurch.
Does a property price drop look likely in Christchurch as of 2026?
As of January 2026, the likelihood of a meaningful property price decline in Christchurch over the next 12 months is low, unless a major external shock hits the economy.
The plausible price change range for Christchurch in 2026 sits between -3% on the downside and +7% on the upside, with a flat-to-modest-gain scenario being most likely.
The single most important macro factor that could increase the odds of a price drop in Christchurch is a sharp rise in mortgage rates, which would squeeze affordability and push some buyers out of the market.
However, this scenario looks unlikely in the near term, as the Reserve Bank of New Zealand has been signaling a more accommodative stance, and most forecasters expect rates to drift lower or hold steady through 2026.
Finally, please note that we cover the price trends for next year in our pack about the property market in Christchurch.
Could property prices jump again in Christchurch as of 2026?
As of January 2026, the likelihood of a renewed price surge in Christchurch is medium, meaning it could happen but would require several factors to align at once.
If conditions turn favorable, Christchurch prices could plausibly rise by 3% to 7% over the next 12 months, with anything above 10% requiring both rate cuts and a supply stall.
The single biggest demand-side trigger that could drive prices to jump in Christchurch is a meaningful drop in mortgage rates, which historically brings more buyers into the market within 3 to 9 months.
Please also note that we regularly publish and update real estate price forecasts for Christchurch here.
Are we in a buyer or a seller market in Christchurch as of 2026?
As of January 2026, Christchurch sits in a mild buyer's market to balanced market, meaning buyers have reasonable negotiating power but the best properties still sell quickly.
Months-of-inventory in Christchurch appears to be around 4 to 5 months, which is slightly above the 3-month level that typically favors sellers, giving buyers more breathing room to negotiate.
The share of listings with price reductions in Christchurch is moderate, suggesting that while sellers cannot simply name their price, they are not desperate either, so expect some back-and-forth on offers.
We have made this infographic to give you a quick and clear snapshot of the property market in New Zealand. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Are homes overpriced, or fairly priced in Christchurch as of 2026?
Are homes overpriced versus rents or versus incomes in Christchurch as of 2026?
As of January 2026, Christchurch homes appear roughly fair to slightly expensive when comparing purchase costs to rents and incomes, with no extreme overpricing but affordability still stretched for many buyers.
The price-to-rent ratio in Christchurch works out to a gross yield of about 3.9%, which is below the 5% to 6% range that typically signals a "cheap" market, but not dangerously low either.
The price-to-income multiple in Christchurch sits around 6.5 times annual household income, which is above the traditional "affordable" benchmark of 3 to 4 times income, meaning most buyers need dual incomes and healthy deposits.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Christchurch.
Are home prices above the long-term average in Christchurch as of 2026?
As of January 2026, Christchurch home prices are mildly above their long-term trend, but the gap is smaller than in Auckland or Wellington because Christchurch had more moderate growth during the last peak.
The recent 12-month price change in Christchurch is around +1.7%, which is well below the pre-pandemic pace of 5% to 8% annual growth, indicating a calm rather than overheated market.
In inflation-adjusted terms, Christchurch prices are roughly in line with their prior cycle peak, meaning real purchasing power has not expanded dramatically, which is a healthier setup than a frothy boom.
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What local changes could move prices in Christchurch as of 2026?
Are big infrastructure projects coming to Christchurch as of 2026?
As of January 2026, the biggest infrastructure projects in Christchurch are the One New Zealand Stadium (Te Kaha) and Parakiore Recreation and Sport Centre, both of which could lift property values in nearby suburbs by improving amenities and creating jobs.
The Te Kaha stadium is on track to open in April 2026 with a project cost around NZ$683 million and 30,000+ capacity, while Parakiore opened in December 2025, meaning both are either live or imminent.
For the latest updates on the local projects, you can read our property market analysis about Christchurch here.
Are zoning or building rules changing in Christchurch as of 2026?
The most important zoning change in Christchurch is Plan Change 14, which enables greater development density in and around urban centres as required by national urban development policy.
As of January 2026, this rule change is likely to put modest downward pressure on older standalone house prices in targeted areas (more competition from new townhouses), while supporting overall affordability by boosting supply over time.
The areas most affected by these zoning changes in Christchurch are inner suburbs and centres like Riccarton, Addington, and Sydenham, where higher-density townhouse and terrace developments will become more common.
Are foreign-buyer or mortgage rules changing in Christchurch as of 2026?
As of January 2026, mortgage rule changes matter far more than foreign-buyer rules for Christchurch prices, and the direction has been toward easier credit with LVR restrictions eased from July 2025.
No major foreign-buyer rule changes are being actively considered for standard Christchurch residential property, as the existing overseas investment restrictions already limit most foreign purchases of existing homes.
The most significant mortgage rule change is the debt-to-income (DTI) framework that the RBNZ has available as a tool, which caps how much households can borrow relative to their income and limits runaway price growth even if rates fall.
You can also read our latest update about mortgage and interest rates in New Zealand.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in New Zealand versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
Will it be easy to find tenants in Christchurch as of 2026?
Is the renter pool growing faster than new supply in Christchurch as of 2026?
As of January 2026, renter demand in Christchurch is growing solidly thanks to migration inflows, while new rental supply is responding but not yet outpacing that demand, especially in the most popular suburbs.
The clearest signal of renter demand in Christchurch is the city's net migration gain, with +1,700 net internal migrants and +980 net international migrants in the June 2025 year, both of which feed directly into rental demand.
On the supply side, building consents nationally were trending upward by September 2025, but Christchurch's intensification rules mean new stock tends to cluster in certain areas, leaving high-demand suburbs like Riccarton, Ilam, and St Albans still tight.
Are days-on-market for rentals falling in Christchurch as of 2026?
As of January 2026, a well-priced rental in Christchurch typically finds a tenant in about 2 to 3 weeks, and this timeframe has held steady or improved slightly as demand remains robust.
In the best areas like Riccarton, Ilam, and St Albans, rentals often let within 10 to 14 days, while weaker locations or overpriced properties can sit for 4 weeks or more.
One common reason days-on-market stays low in Christchurch is the constant flow of students and young professionals near the University of Canterbury and major employment hubs, creating year-round base demand in key suburbs.
Are vacancies dropping in the best areas of Christchurch as of 2026?
As of January 2026, vacancy rates in top Christchurch rental areas like Fendalton, Merivale, Riccarton, and Cashmere remain low and are either stable or tightening, thanks to steady demand from families, students, and professionals.
These best areas typically run vacancy rates well below the city average, often under 2%, while broader Christchurch sits closer to 2.5% to 3%, reflecting the premium tenants place on location and quality.
One practical sign that "best areas" are tightening first in Christchurch is when landlords start receiving multiple applications within the first open home, which has become more common in suburbs like Ilam and St Albans.
By the way, we've written a blog article detailing what are the current rent levels in Christchurch.
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Am I buying into a tightening market in Christchurch as of 2026?
Is for-sale inventory shrinking in Christchurch as of 2026?
As of January 2026, for-sale inventory in Christchurch is not clearly shrinking and appears stable to slightly elevated compared to the same time last year, with listings up according to QV's latest commentary.
Months-of-supply in Christchurch sits around 4 to 5 months, which is slightly above the 3-month threshold that typically signals a tight seller's market, meaning buyers have reasonable options without extreme scarcity.
Are homes selling faster in Christchurch as of 2026?
As of January 2026, homes in Christchurch are selling faster than they were during the slower parts of the cycle, with QV explicitly noting that days-to-sell have decreased through late 2025.
The typical Christchurch home now sells in about 30 to 40 days, down from longer timeframes during 2023 and early 2024, though premium properties in sought-after suburbs often move quicker at around 20 to 25 days.
Are new listings slowing down in Christchurch as of 2026?
As of January 2026, new for-sale listings in Christchurch are not slowing down and appear to be rising year-over-year, as sellers grow more confident about testing the market in a stabilizing environment.
Christchurch typically sees more new listings in spring and early summer (September to December), with January being slightly quieter, but current levels do not appear unusually low compared to seasonal norms.
Is new construction failing to keep up in Christchurch as of 2026?
As of January 2026, new construction in Christchurch is responding to demand but may not fully close the gap in the most popular suburbs, where migration inflows continue to outpace the pace of new completions.
Building consents nationally were trending upward by September 2025, and Christchurch's Plan Change 14 is designed to enable more density, but the pipeline takes 18 to 24 months to translate into actual homes people can live in.
The biggest bottleneck limiting new construction in Christchurch is the lag between planning approval and completed builds, plus labour and material cost pressures that slow down delivery even when consents are issued.
We made this infographic to show you how property prices in New Zealand compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Will it be easy to sell later in Christchurch as of 2026?
Is resale liquidity strong enough in Christchurch as of 2026?
As of January 2026, resale liquidity in Christchurch is healthy for mainstream property types, meaning a correctly priced house, townhouse, or unit in a decent location should sell within a reasonable timeframe without major difficulty.
The median days-on-market for resale homes in Christchurch is around 30 to 40 days, which compares favorably to the 60+ day benchmark that would signal sluggish liquidity and suggests the market is functioning normally.
One property characteristic that most improves resale liquidity in Christchurch is location within a strong school zone like Fendalton, Merivale, or Burnside, as these suburbs consistently attract family buyers regardless of broader market conditions.
Is selling time getting longer in Christchurch as of 2026?
As of January 2026, selling time in Christchurch is actually getting shorter rather than longer, reversing the slower conditions seen during 2023 and early 2024 when the market was more subdued.
The current median days-on-market in Christchurch is around 30 to 40 days, with a realistic range spanning from under 20 days for premium properties in top suburbs to 60+ days for overpriced or compromised listings.
One clear reason selling time can lengthen in Christchurch is overpricing, as buyers have enough options to simply wait for a better deal rather than overpay, so realistic pricing from day one is essential.
Is it realistic to exit with profit in Christchurch as of 2026?
As of January 2026, the likelihood of selling with a profit in Christchurch is medium to high if you hold for a typical 5 to 10 year period, but quick flips within 2 to 3 years carry more risk given modest current price growth.
The minimum holding period in Christchurch that most often makes exiting with profit realistic is around 5 years, which gives enough time for capital growth to absorb transaction costs and market fluctuations.
The estimated total round-trip cost drag in Christchurch, including buying costs (legal fees, inspections) and selling costs (agent commission, legal, marketing), typically runs around NZ$40,000 to NZ$60,000 on an average-priced home, which equals roughly USD$24,000 to USD$36,000 or EUR$22,000 to EUR$33,000.
One clear factor that most increases profit odds in Christchurch is buying a well-located property slightly below market value, such as one needing cosmetic work that you can improve, in suburbs with proven resale demand like Riccarton, St Albans, or Halswell.
Get the full checklist for your due diligence in Christchurch
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Christchurch, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| QV House Price Index | QV is one of New Zealand's best-known property data providers, widely referenced across the industry. | We used QV's Christchurch value and growth numbers as our baseline for current prices. We also used their market commentary on days-to-sell and listings to judge buyer versus seller conditions. |
| Stats NZ Subnational Population Estimates | Stats NZ is the official national statistics agency, making its population and migration numbers authoritative. | We used Christchurch's net internal and international migration gains to gauge underlying housing demand pressure. We used the migration components to avoid guessing what's driving population growth. |
| Stats NZ Building Consents | Stats NZ is the official source for building consent trends, a key leading indicator for housing supply. | We used this release to judge whether new supply is accelerating or cooling. We combined it with Christchurch planning changes to estimate if supply will catch up to demand. |
| Tenancy Services Bond Data (via Figure.NZ) | Tenancy Services bond records are one of the most reliable ways to measure rents from actual lodged tenancies. | We used the Christchurch City median weekly rent series to anchor rent levels and momentum. We used it to compute a price-to-rent yield as a reality check on valuations. |
| Reserve Bank of New Zealand Retail Interest Rates | The RBNZ is the central bank, and its rate series are the reference point for borrowing costs. | We used it to anchor the "cost of waiting versus buying" via mortgage rate levels. We used it to frame what falling or rising rates could do to buyer demand in 2026. |
| RBNZ LVR Restrictions Update | This is the regulator setting the rules banks must follow, directly affecting who can borrow and how much. | We used it to assess whether credit is getting easier or tighter for buyers in 2026. We used it to estimate the risk of a credit-driven price jump. |
| RBNZ DTI Restrictions Explainer | DTIs are a major credit policy lever, and the RBNZ is the definitive source on how they work. | We used it to judge the ceiling on how far prices can run if lending rules cap borrowing multiples. We used it to explain crash risk versus soft landing risk clearly. |
| Beehive Plan Change 14 Announcement | Beehive releases are official ministerial announcements, making them the cleanest source on government decisions. | We used it to identify whether Christchurch is moving toward higher density and more supply over time. We used it to explain why some suburbs may see more townhouse and terrace builds. |
| RNZ Stadium Coverage | RNZ is the national public broadcaster and typically cites primary parties for major infrastructure updates. | We used it as a credible summary of the Te Kaha stadium project timeline and scale. We used it to flag areas likely to benefit from regeneration and demand spillover. |
| Christchurch City Council Parakiore Announcement | The council is the project owner, making it the most direct source on dates and commissioning. | We used it to confirm timing of Parakiore opening in late 2025, relevant for rentals and resale appeal. We used it to support our local changes section with official information. |
| realestate.co.nz Market Update | realestate.co.nz is a major NZ listing portal that publishes transparent, repeatable listing metrics. | We used it as a listings and stock thermometer to support our buyer versus seller market judgement. We used it as a secondary check against QV's commentary on listing activity. |
| Infometrics Regional Economic Profile | Infometrics is a long-running NZ regional data compiler that clearly cites official sources for many series. | We used it as a second rent lens to triangulate MBIE bond medians. We used it to avoid overreacting to any single month's rent print. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of New Zealand. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
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