Christchurch property market update - February 2026

It’s good to be back into a proper routine after summer.

Kids are back at school, work rhythms are returning, and from what we’re seeing on the ground, Christchurch has started 2026 with real momentum. That momentum is causing a lot of optimism in our market, and it is showing.

We’re seeing a few consistent themes coming through in conversations with buyers, sellers, and agents

• Buyers are more decisive than they were six months ago. There’s less “wait and see” behaviour and more confidence to move when the right property comes up.
• Listings are increasing, particularly in Selwyn and North Canterbury, but good homes are still being absorbed quickly.
• There’s urgency in the upper-mid price brackets — especially around the $1m–$1.5m mark — with families keen to act now rather than risk being priced out later.
• Finance confidence has improved. With rates feeling more stable, people are planning further ahead instead of making short-term decisions.

We’ve just come off one of our biggest quarters on record, helping over 380 clients into viable home ownership. That volume proves that activity is real and not just talk.

We’re also seeing buyers doing more due diligence than ever before. Online tools have made property research easier and faster, and buyers are coming to the table extremely well-informed.

As a result, there’s a clear preference for well‑presented homes, with questions being identified and resolved earlier in the process.

Another key driver of the optimism we're seeing throughout Canterbury is land supply.

We’re seeing:

• Around 2,000 new sections coming through Rolleston
• Approximately 500 in Prebbleton
• Around 1,500 planned for Lincoln
• Significant subdivision activity planned around Rangiora

This level of supply creates real opportunity, especially for buyers who are prepared to think a little longer term. It also helps keep Christchurch more affordable and stable compared to markets where land is constrained.

For buyers, new builds offer:

• Greater certainty around maintenance
• Better energy efficiency
• More predictable lending structures

For the market overall, land availability helps limit extreme price swings, which is one of the reasons Christchurch continues to bounce back faster and is seeing a steady rise in house prices, unlike other metropolitan areas which are still struggling.

Across different parts of the market...

First-home buyers
This remains one of the better windows we’ve seen in a while. More listings, less panic, and clearer lending rules mean first-home buyers who are organised can compete well. New builds and outer-city developments are especially worth considering.

Investors
There’s a lot of renewed interest, but my advice hasn’t changed: take a long-term view. Understand the loan structure, stress-test your cash flow, and think carefully about resale. If you ever had to sell quickly, would the property stand up? Rentals are a big family commitment — clarity matters.

Movers and upgraders
This is where we’re seeing the most urgency. Many families are selling and buying in the same window to avoid being caught by price movement. Having finance pre-structured before listing is making a huge difference to outcomes.

The OCR and interest rates

Thanks to last week’s Reserve Bank update, the OCR has remained on hold, which is what we expected. Unless something materially changes, this year is shaping up to be a relatively steady one on the rates front.

We’re seeing most clients:

• Prefer to fix for two years rather than one
• Prioritising interest rate certainty over trying to “pick the bottom”
• Structuring lending with flexibility built in

That approach is removing stress and allowing people to focus on the property decision itself.

If I had to sum it up: Christchurch looks set to remain one of New Zealand’s steadier, more resilient markets this year.

We have strong land supply, growth in the surrounding regions, completion of major infrastructure projects and a market being driven by people over speculation.

That doesn’t mean every property will sell within a week of listing, but it does mean well-priced, well-located homes should continue to perform solidly.

As always, thank you for trusting us with your lending decisions.

If you’re thinking about buying, selling, building, or restructuring this year, reach out to our team sooner rather than later. The best outcomes are coming from good planning, not rushed decisions.

About the author: Nathan Miglani, Squirrel Managing Adviser - Christchurch & South Island

Let’s just say Nathan’s not one to do things by halves. Since arriving in NZ over a decade ago, he’s built a Christchurch-based Loan Market franchise from scratch, turned it into an award-winning brokerage, and taken out the title Loan Market’s #1 mortgage adviser in Australasia in 2022. After rebranding to NZ Mortgages in 2023—and doubling down on customer-first service—he teamed up with Squirrel in 2024 to bring even sharper mortgage and funding solutions to clients. Regularly featured in the media, Nathan’s the guy you want in your corner for anything from business lending, property investment to construction finance.