Christchurch Real Estate Market Update — February 2026
Quick Answer: Christchurch's property market enters February 2026 on steady footing, with Canterbury's average asking price reaching $719,184 — a new January high. The OCR holds at 2.25%, mortgage rates remain competitive, and buyer activity is picking up after a cautious start to the year. First home buyers continue to drive nearly 40% of lending, while investor interest has doubled since early 2025.
What's in This Guide
- Market Overview: Where Christchurch Stands in February 2026
- Key Market Trends Shaping Christchurch Property
- Suburb Spotlight: Where Prices Are Moving Fastest
- Strategies for Buyers and Sellers This Autumn
- Why Work With Hayden Roulston
- Frequently Asked Questions
Market Overview: Where Christchurch Stands in February 2026
The Christchurch property market has carried steady momentum into the new year. According to QV data from January 2026, the average house price across the city sits at $793,588, reflecting a 3.03% annual increase. Canterbury's median sale price, as reported by REINZ, reached $705,000 in late 2025 — up 2.2% year-on-year — while the region's average asking price hit a January record of $719,184.
Nationally, the picture is more mixed. New Zealand's median house price edged up 1.4% to $786,977 through December 2025, but several regions remain flat or in decline. Canterbury's consistent, low-single-digit growth stands out as one of the more resilient performances around the country.
Economic Backdrop and the OCR
The Reserve Bank of New Zealand held the Official Cash Rate at 2.25% at its February 2026 review, keeping it at the lowest level seen in years following a sustained cutting cycle through 2025. While rates are on hold for now, financial markets are already pricing in potential movement later in the year — with some economists flagging that persistent inflation could see rates edge upward by mid-2026.
For homeowners and buyers, the immediate picture remains supportive. Banks continue to offer competitive mortgage rates, and cashback deals of up to 1.5% have been available. However, wholesale interest rates have begun to tick up, so buyers looking to lock in fixed terms should keep a close eye on the next OCR decisions in April and May.
Population and Demand Drivers
Christchurch continues to attract internal migration, particularly from Auckland, as families and professionals seek a more affordable lifestyle without compromising on amenities. The city's ongoing investment in major infrastructure — including the new Te Kaha stadium and metro sports facility — adds to its appeal as a growing, liveable city. Population growth supports underlying housing demand, even as new builds ramp up to add supply.
Key Market Trends Shaping Christchurch Property
Buyer Confidence Is Building, But Patience Remains
The start of 2026 has seen buyer activity gradually increase, though the frenzied pace of previous cycles hasn't returned. Nationally, listing stock rose 2.3% year-on-year to over 33,000 properties in January — the highest January level in a decade. This means buyers still have choice, and most are taking their time to make well-considered decisions rather than rushing into purchases under pressure.
In Canterbury specifically, the market is balanced between supply and demand. Properties priced well and presented professionally are attracting solid interest, while overpriced listings are sitting longer. The days of multiple unconditional offers within the first open home are largely behind us, and that's not necessarily a bad thing — it creates a healthier, more sustainable market.
First Home Buyers Lead the Charge
First home buyers continue to be the most active segment, making up approximately 40% of all lending in the Canterbury region. Lower interest rates and government incentive schemes have made homeownership more accessible for younger buyers who were locked out during the peak years. Many are targeting townhouses and smaller standalone homes in suburbs like Halswell, Wigram, and Addington, where entry prices remain achievable.
Investor Activity Is Quietly Returning
Property investors now represent around 10% of loan applications — double the figure from early 2025. With rental demand remaining strong (Christchurch's median weekly rent sits at $570, up 3.6% annually) and mortgage rates more manageable, the numbers are starting to work again for buy-and-hold investors. Yields in suburbs like Woolston, Phillipstown, and Linwood continue to attract attention from those looking for cash flow-positive properties.
Townhouses Outperforming Standalone Homes
One of the standout trends heading into 2026 is the outperformance of townhouses. Projected value growth for townhouses sits at 6–7% for 2026, compared with 4–5% for traditional standalone homes and just 2–3% for apartments. This reflects shifting buyer preferences — particularly among first home buyers and downsizers who value low-maintenance living in well-connected locations.
Suburb Spotlight: Where Prices Are Moving Fastest
Top-Performing Suburbs
Not all parts of Christchurch are moving at the same pace. Here are the suburbs showing the strongest momentum heading into February 2026:
- Somerfield: Annual growth of 6–7%, driven by its proximity to Cashmere and Beckenham's established character homes
- Halswell: Growing 5–6% annually, fuelled by new developments and family-friendly infrastructure
- Addington: Up approximately 5%, benefiting from its central location and the Hagley Park precinct
- Cracroft: The standout over 24 months with 26.7% growth — though from a smaller base, this hill suburb is increasingly sought after
- St Albans: Strong demand continues, projected at 6–8% growth through 2026 as one of the most popular inner suburbs
Most Affordable vs Most Expensive
The price gap across Christchurch remains significant. Scarborough tops the list as the most expensive suburb with an average house value of $2,001,300, while Phillipstown remains the most affordable at $468,200. For buyers on a budget, eastern suburbs continue to offer the best entry points, while the established western and hill suburbs command premium prices.
What to Watch This Autumn
As we move from February into the traditionally active autumn selling season, suburbs with strong school zones and easy commuter access tend to see increased activity. Areas like Merivale, Fendalton, and Papanui typically attract families looking to settle before the school year is fully underway. Keep an eye on new listings in these suburbs over the coming weeks.
Strategies for Buyers and Sellers This Autumn
For Buyers
- Lock in your mortgage rate: With wholesale rates starting to tick upward, securing a competitive fixed rate now could save thousands over the coming years. Talk to your broker about fixing for 1–2 years while rates remain near their lows.
- Act on well-priced properties: While the market is balanced, quality homes in popular suburbs are still generating strong interest. If a property meets your criteria and is fairly priced, don't wait for a bargain that may not come.
- Consider townhouses: With stronger growth projected for townhouses than standalone homes, this property type offers both lifestyle appeal and solid capital growth potential for 2026.
- Get a free property appraisal before you buy, to understand current values in your target suburb and ensure you're not overpaying.
For Sellers
- Autumn is your window: March through May is traditionally one of the strongest selling periods in Christchurch. Buyers are settled from holidays and motivated to purchase before winter.
- Price it right from day one: In a market where buyers have choice and are taking their time, overpricing will cost you. Properties that sit on the market lose momentum and often end up selling for less than they would have at a competitive starting price.
- Presentation matters more than ever: With high listing stock, your property needs to stand out. Professional photography, decluttering, and minor touch-ups can make a meaningful difference to buyer interest.
- Know your numbers: Use a rental yield calculator to understand the investment value of your property and present it as an option to investor buyers as well as owner-occupiers.
Why Work With Hayden Roulston
Navigating the Christchurch property market requires more than just a listing — it takes local knowledge, proven experience, and a genuine commitment to achieving the best result for you. Whether you're looking to sell your home in Christchurch or find the right property to buy, Hayden brings a results-driven approach backed by deep connections across the Canterbury market.
As a Christchurch local with a background in elite sport, Hayden understands what it takes to perform under pressure and deliver when it counts. His clients consistently highlight his honest communication, market insight, and willingness to go above and beyond. You can read what they have to say on the testimonials page, or explore recent success stories to see how Hayden has helped sellers and buyers across the city.
Frequently Asked Questions
1. What is the average house price in Christchurch in February 2026?
As of January 2026, the average house price in Christchurch is $793,588 according to QV data, reflecting a 3.03% annual increase. Canterbury's median sale price via REINZ sits around $705,000.
2. Is the Christchurch property market going up or down?
The market is trending upward, with steady low-single-digit growth. Canterbury recorded a new January asking price high of $719,184, and most forecasters expect 4–6% citywide growth through 2026.
3. What is the current OCR and how does it affect house prices?
The OCR is currently 2.25%, held at the February 2026 RBNZ review. Lower interest rates make borrowing more affordable, which supports buyer activity and house prices. However, potential rate increases later in 2026 could temper growth.
4. Which Christchurch suburbs are growing fastest?
Somerfield (6–7%), Halswell (5–6%), Addington (~5%), and St Albans are among the fastest-growing suburbs heading into 2026. Cracroft has been the standout over 24 months with 26.7% growth.
5. Is it a good time to buy in Christchurch?
Many analysts describe the market as being at or near the bottom of its property cycle, with prices still 2.24% below the February 2022 peak. Combined with competitive mortgage rates, this presents a potential buying opportunity — particularly in growth suburbs.
6. Are rental yields still strong in Christchurch?
Yes. The median weekly rent is $570, up 3.6% year-on-year. Rents have increased $120 per week over the past four years. Suburbs like Woolston, Phillipstown, and Linwood offer the strongest cash flow yields for investors.
7. Should I sell my Christchurch home in autumn 2026?
Autumn is traditionally one of the best selling seasons. Buyer activity picks up in March–May, and well-presented, correctly priced properties typically achieve strong results during this period.
8. What types of properties are performing best?
Townhouses are projected to grow 6–7% in 2026, outperforming standalone homes (4–5%) and apartments (2–3%). First home buyers and downsizers are driving demand for low-maintenance, well-located townhouse properties.
Key Insights
Data sources for this update include QV House Price Index (January 2026), REINZ Monthly Property Report, realestate.co.nz January 2026 Market Report, Reserve Bank of New Zealand OCR announcements, and Opes Partners property market analysis.