Christchurch property ‘low-hanging fruit’ for Investors

Liz McDonald/Stuff
The once flat Christchurch real estate market is now seeing rapid price growth.

Affordability and low-interest rates will continue to drive upward pressure on Christchurch house prices, experts say.

Property values in the city remain buoyant following the strongest rate of monthly growth in 17 years over January of 3.1 per cent, and a 5.8 per cent quarterly rise, according to CoreLogic’s latest data.

Business journalist and economic commentator Bernard Hickey described the city as “low-hanging fruit” for property investors and an attractive option for first-home buyers who could not afford to buy in Auckland or Wellington’s overheated market.

“The reason why Christchurch now seems to be hotter than the rest of the country is that there is some catch-up going on after five years of more than usual housing supply coming onto the market.”