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
Why is Christchurch emerging as a prime location for property investment in 2025? Is it the attractive rental returns, the city's revitalization efforts, or the competitive pricing compared to other urban centers? What makes it a compelling choice for investors?
We often encounter these questions because we're actively engaged with local developers, real estate professionals, and investors like you. With growing interest in this market, we've decided to compile our insights into a detailed article for everyone's benefit.
Our aim is to present a clear argument for investing in Christchurch's property market, supported by our firsthand experience and in-depth market understanding.
If you feel we've overlooked an important aspect or want more information, please reach out (we respond very quickly). Your feedback enhances our content.
Finally, please remember that this is not financial or investment advice. Real estate investment involves risks, and market conditions can change unexpectedly. We strongly recommend conducting thorough research and consulting with a qualified financial advisor before making any investment decisions.
How this content was created 🔎📝
2) In Christchurch, first-time buyers are drawn to the more affordable property prices compared to other major New Zealand cities
Christchurch is a top choice for first-time homebuyers because of its affordable property prices compared to other major New Zealand cities.
In 2024, the median property price in Christchurch was $686,806, which is significantly lower than Auckland's $1.2 million and Wellington's $930,000. This makes Christchurch a more accessible market for those looking to buy their first home.
With property prices about 30% below those in Auckland, Christchurch offers substantial savings for buyers. This affordability is a major draw for first-time buyers eager to enter the property market.
Over the past two decades, Christchurch has seen a slower price growth, averaging 5.06% per year, indicating a more stable market. This stability, along with favorable rental yields of 4.36%, makes the city appealing to both first-time buyers and investors.
The city's lifestyle appeal and ongoing development further enhance its attractiveness, offering a balanced mix of urban and suburban living. Christchurch's vibrant community and growing infrastructure make it a desirable place to settle down.
Sources: Opes Partners, ODT, KiwiBank Commentary
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.
3) Urban renewal in the city is boosting property values in older neighborhoods
Christchurch is buzzing with urban renewal projects that are transforming older neighborhoods.
These changes are not just cosmetic; they're boosting property values too. For example, real estate prices in Christchurch are expected to jump by 3% to 7% in 2025 as the city enhances its infrastructure and builds its reputation as a tech and innovation hub.
Neighborhoods like Merivale and Fendalton are in the spotlight, with even higher price hikes anticipated. This is due to new luxury housing developments and a tight housing supply, which naturally pushes demand and prices up.
The city's Long Term Plan for 2024-2034 is a game-changer, with major investments in infrastructure like water networks and roads. These upgrades are set to improve living conditions, which in turn, will likely boost property values.
Greater Christchurch is on the rise, with a projected population boom that will increase housing demand. This demand, along with urban renewal efforts, is creating a positive cycle that benefits property values.
While specific media articles aren't listed here, the buzz around these projects is generally positive, suggesting that public perception is on the upswing, further supporting the rise in property values.
Sources: Greater Christchurch Housing Development Capacity Assessment, Business Development Capacity Assessment, Long Term Plan 2024-2034
4) Christchurch’s flat terrain allows for easy development, supporting long-term growth
Christchurch's flat geography makes it a breeze to develop new residential areas, supporting long-term growth.
Flat land is a developer's dream because it's cheaper and easier to build on than hilly terrain. This means housing projects can pop up faster, meeting the growing demand in the region. In 2023 and 2024, the Greater Christchurch area experienced a population boom, especially in the Selwyn and Waimakariri districts. Here, the flat land has been a game-changer, allowing for new housing projects to flourish.
These areas have plenty of greenfield sites, which are large, undeveloped plots perfect for new builds. This availability has been crucial in handling the population surge. The Greater Christchurch Urban Development Strategy has been a guiding light, ensuring that urban expansion is sustainable and well-planned. Thanks to the flat geography, implementing these plans is a lot smoother.
The strategy focuses on integrated planning and efficient infrastructure, making sure new neighborhoods are connected and sustainable. The flat terrain of Christchurch is a perfect match for these efforts, simplifying the process of rolling out new developments. This synergy between geography and planning is a big win for the region.
Sources: Waimakariri District Council, Canterbury Wellbeing, The Treasury New Zealand
6) Christchurch’s mild climate makes it a comfortable year-round choice for retirees
Christchurch's mild climate makes it a comfortable place to live year-round.
With temperatures ranging from 12 °C (53 °F) in July to 22 °C (72 °F) in January, you won't have to worry about extreme heat or cold. This makes it perfect for those who prefer a balanced climate.
On top of that, Christchurch basks in 2136 hours of sunshine annually. This abundance of sunlight is a big draw for retirees who love sunny days and the boost they bring to mood and well-being.
Another perk is the city's low incidence of extreme weather events. This means you can count on a stable and predictable climate, which is a huge plus for anyone looking to settle down.
Moderate rainfall adds to the comfort, ensuring the city stays lush without being overwhelming. This balance makes Christchurch a delightful place to call home.
Sources: Sunheron, Figure.NZ, Weather-and-climate.com
8) Christchurch’s location near South Island attractions makes it ideal for short-term rental opportunities
Christchurch is now a major gateway to the South Island's tourist hotspots, driving up short-term rental demand.
In 2023, the city saw a 47% jump in visitor numbers compared to the previous year. This trend didn't slow down in 2024, as more tourists chose Christchurch as their starting point for South Island adventures. The city's strategic location near the Southern Alps and national parks makes it a perfect launchpad for exploring the region.
This prime location has led to high occupancy rates for short-term rentals. The median occupancy rate is 76%, with an average daily rate of NZD151, showing strong demand. Visitors love the flexibility and homey feel of these rentals, which is why they're so popular.
The growth in Airbnb listings is another sign of this trend. By September 2024, there were 2,252 active listings, reflecting the increasing popularity of short-term rentals. Many travelers prefer these accommodations for their unique experiences and convenience.
Christchurch's role as a gateway to the South Island's attractions is undeniable. The city's proximity to major tourist spots not only boosts its appeal but also supports the thriving short-term rental market. This makes it an attractive option for property investors looking to tap into the tourism boom.
Sources: Destination Analytics Report, Airbtics: Christchurch, Airbnb Market Statistics & Data, New Zealand, Christchurch Visitor Strategy 2019 Update
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.
9) In Christchurch, you’ll find more space for homes due to its lower population density than Auckland or Wellington
Christchurch offers more space for residential development compared to Auckland or Wellington.
While Christchurch's urban area has about 1,300 people per square kilometer, this drops to just 270 people per square kilometer when you include the entire city and Banks Peninsula. This means there's plenty of room to grow, especially in areas like Selwyn and Waimakariri, which are expected to see significant growth by 2043.
In comparison, Auckland and Wellington are much denser, with Auckland at 43 people per hectare and Wellington at 38. This difference highlights Christchurch's potential for expansion, offering more land for new homes and communities.
Christchurch is not just sitting on this potential; the city is actively planning infrastructure projects, like light rail, to support growth and manage urban sprawl. This proactive approach is part of the city's strategy to handle future development efficiently.
The city's history of post-quake development, particularly in areas like Halswell, demonstrates its ability to expand residential areas effectively. This experience gives Christchurch an edge in planning and executing new housing projects.
With its lower density and strategic planning, Christchurch is positioning itself as a prime location for those looking to invest in property. The city's approach to development is both forward-thinking and grounded in practical experience.
Sources: Greater Auckland, NZ Herald, Talking Transport
10) With new infrastructure like the stadium, Christchurch offers promising economic and social benefits
Christchurch is buzzing with exciting infrastructure projects, and the new stadium, Te Kaha, is at the heart of it all.
The Christchurch City Council has laid out a Long-Term Plan from 2024 to 2034, pouring funds into the city's infrastructure. This isn't just about the stadium; it's a comprehensive effort to upgrade essential services like water, transport, and waste management, which are vital for a city on the rise.
Te Kaha is set to be a game-changer, with an economic impact of around NZ$50 million annually for the Canterbury region. Hosting over 200 events each year, it will draw more than 500,000 guests, boosting local businesses like hotels and restaurants as visitors flock to the city.
Job creation is another big win. By mid-2024, the stadium's construction had already logged over 700,000 work hours. Once operational, it will continue to offer jobs in event management, hospitality, and maintenance, providing stable employment for many locals.
Christchurch's tourism scene is set to thrive with the stadium's world-class facilities for sports and entertainment. This will not only attract more visitors but also spur economic growth, as seen with the population boom in areas like Hornby due to improved city amenities.
Sources: Infrastructure Strategy - Christchurch City Council, Annual Report Summary 2024 - Christchurch City Council, Christchurch Stadium Prepares for 2026 Launch - TTGmice
11) Christchurch’s green spaces and parks make it a great place for families
Christchurch is a fantastic place for families, thanks to its focus on green spaces and parks.
The city boasts an impressive network of 1,296 parks spread over 9,768 hectares, offering plenty of spots for family outings and relaxation. Known as the "Garden City," Christchurch's lush environment is a big draw for those seeking a healthy lifestyle. Families love suburbs like Parklands, where the abundance of green spaces makes life more enjoyable.
Christchurch's reputation is backed by media coverage that highlights its abundant parks and green areas. This image attracts families who appreciate the city's commitment to providing a pleasant living space. The demand for homes in green-rich suburbs is on the rise, showing that families truly value these areas.
Surveys reveal that 73% of residents in Greater Christchurch find it easy to access their nearest park or green space. This high satisfaction level is a testament to the city's smart urban planning, which prioritizes green spaces and makes Christchurch a welcoming place for families.
Living in Christchurch means having nature at your doorstep, with parks and gardens offering a breath of fresh air. The city's dedication to maintaining these spaces ensures that families have plenty of options for outdoor activities and relaxation.
Whether it's a weekend picnic or a daily walk, the city's green spaces provide a perfect backdrop for family life. Christchurch's commitment to enhancing the quality of life through its parks makes it a top choice for families looking to settle down.
Sources: Greater Christchurch Partnership, Realestate.co.nz, Expat Frontier, Christchurch City Council
Make a profitable investment in Christchurch
Better information leads to better decisions. Save time and money. Download our guide.
12) Christchurch’s multicultural vibe attracts a wide range of property buyers
Christchurch is becoming a melting pot of cultures, making it one of New Zealand's most ethnically diverse cities.
In 2023, the census revealed that a large chunk of the city's population is of Asian descent, with the Filipino community growing by nearly 50% since 2018. This vibrant mix includes people from over 200 different birthplaces and more than 150 languages, adding to the city's colorful cultural scene.
Looking ahead, Greater Christchurch is expected to hit a population of 621,600 by 2038, driven by both natural growth and migration. This means the city's multicultural vibe will only get stronger. Events like the Culture Galore Festival, which showcases food, arts, and performances from around the world, highlight the rich cultural tapestry of Christchurch.
Even without specific surveys, it's clear that the demand for culturally diverse neighborhoods is on the rise. The growing population and the charm of multicultural areas suggest that real estate in these parts of Christchurch is hot property.
Neighborhoods with high ethnic diversity are particularly attractive to buyers who crave cultural experiences and community involvement. This trend is evident in Christchurch, where the city's multicultural population creates diverse neighborhoods, appealing to a wide range of buyers.
So, if you're considering buying property in Christchurch, you're not just investing in a home; you're becoming part of a lively, multicultural community. The city's unique blend of cultures offers a rich living experience that is hard to find elsewhere.
Sources: Beehive, Christchurch City Libraries, Canterbury Wellbeing
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.
Related analyses:
- Overview of the current state of the real estate market in Christchurch