Watch Nathan's latest Christchurch market update below, or keep scrolling to read the full article:
It’s been a frosty few weeks across the South Island, but the housing market is starting to show signs of thawing.
Let’s look at what’s been happening across Christchurch and the regions.
What’s happening in the market?
The latest figures from REINZ show a steady national market on the surface, but under that, some real movement is happening down South.
In June, property sales across New Zealand were up 20.3% compared to last year. When you strip out Auckland, that figure jumps up to 21.4%. And right here in Canterbury, we’re seeing strong activity and growing confidence.
The West Coast recorded a massive 35.5% increase in median prices over the year to June, up from $310,000 to $420,000—certainly a standout.
Southland also hit a new median price record at $502,500 - the first region to do so in six months.
What about Christchurch?
Listings are still healthy and there’s no shortage of choice for buyers, but we’re starting to see more urgency creeping back in. Buyers aren’t rushing, but they are moving. We’re seeing more pre-approvals going through than we have in months - a good sign of where things are heading as people ramp up interest in purchasing property.
We’re also seeing something interesting: a lift in interest from Christchurch-based buyers in towns like Hokitika and Reefton. The West Coast has always had a special place in people’s hearts, but now it’s catching investor attention as well. It is especially good for those looking to diversify their portfolio or get started.
Interest rates: eyes on August
The Reserve Bank held the OCR at 3.25% on 9 July, but most economists are picking a drop to 3.00% in August. Inflation crept up slightly but is still within the target band—so the pressure is building for some relief.
If you’re coming off a fixed rate soon or thinking about reviewing your lending, this is a good window to act. Confidence is starting to return, and rates in the 4.85-4.99% range are once again available for one- to three-year terms.
Quick tip: now’s a good time to tidy up your debt
With interest rates easing and cashflow pressure still high for many, now is a smart time to restructure short-term debt - things like credit cards, business loans, or car finance. Consolidating into your home loan (where appropriate) can bring rates down and take the stress off monthly repayments.
Stay warm, and if you’re thinking about your next move - whether that’s buying, refinancing, building or investing - we’re here to help.