Until then, Christchurch values had moved pretty much in line with other main cities. Only four suburbs – Fendalton, Scarborough hill, Kennedy’s Bush and Merivale – have average values exceeding $1 million. For new housing, buyers have the most choice in subdivisions in locations like Halswell, Wigram, Rolleston and Prestons. Davidson says that while immigration may be putting upwards pressure on Christchurch house prices, the increase in unemployment may partly counteract that. Davis says the region’s rising population, especially since the Covid crisis, is bound to increase house prices, but not markedly.

Source: Stuff August 28, 2020 18:00 UTC