It is one of the few markets in New Zealand where the house price threshold won't shift under the Government's first-home buyers scheme. The price threshold lift for eligible houses is part of a suite of changes the Government has unleashed in a bid to tip the scales towards first-home buyers. Phillipstown takes the crown for the cheapest spot in the city, where the median house price is $350,000. He told Newstalk ZB the median house price in Christchurch was about $560,000 - just a shade above the existing cap for a new build. But in the Buller District, the property market is soaring - and house sales jumped nearly 50 per cent last year.

Source: Otago Daily Times March 23, 2021 21:56 UTC