Photo: Bayleys FerrymeadChristchurch boasts five suburbs with average house prices in excess of $1 million for the first time as the city’s property bonanza continues. The latest figures released by property analytics company CoreLogic revealed Merivale and Richmond Hill - above Sumner - joined Scarborough, Fendalton, Kennedys Bush in the $1 million median house price club. Scarborough tops the list of 80 suburbs, with an average house price of $1,268,050, narrowly ahead of Fendalton ($1,263,600). Of that select few, Merivale property values had the largest average increase - 11 per cent or $109,150 over CoreLogic’s time frame. CoreLogic said Auckland’s Herne Bay remains the highest priced suburb in New Zealand, with a median property value of $3 million.

Source: Otago Daily Times April 02, 2021 17:01 UTC