Is it worth buying a property in Canterbury? Explore the data and find out.
Looking to Invest or buy a property in Canterbury?
This article breaks down all the most essential facts about the Canterbury property market.
The Canterbury property market is made up of 9 districts and 134 suburbs. These districts are the Christchurch City, Kaikoura, Hurunui, Waimakariri, Selwyn, MacKenzie, Ashburton, Timaru and Waimate.
Canterbury’s Median House Price is $680,000
As at December 2021, the median house price in Canterbury is $680,000. This is up from $350,000 10 years earlier. That means that the median Canterbury property increased in value by 7.50% each year.
The most expensive suburb in Canterbury is Fendalton, which has a median house price of $1,551,050 and is located in the Christchurch City district. That means that Fendalton’s median house price is 1.28x Canterbury’s median.
The least expensive suburb in Canterbury is Hampstead, which has a median house price of $390,450 and is located in the Ashburton district. That means that Hampstead’s median house price is 42.58% cheaper than Canterbury’s median.
Over the last 21 years (Jan 2000 – Dec 2021), Kensington had the fastest-growing house prices in all of Canterbury, at 8.29% per year. That is 29.08% faster than the median Canterbury house price.
The suburb that grew the slowest over that period was Westmorland, which grew at a rate of 5.49% per year. That’s 14.55% slower than the median Canterbury house price.
You may read the full article here: https://www.opespartners.co.nz/property-markets/canterbury