Christchurch saw a 2.3 per cent increase in the average property value over 2019 in what was described as a "relatively steady" year, the latest figures from QV show.
The average value across the city is now $507,852.
This means Christchurch has the 11th highest average property value out of the 16 cities monitored by QV.
Auckland ($1,047,110), Wellington ($746,955), Napier ($578,861), Hastings ($563,890), Nelson ($638,842), Dunedin ($514,680), Hamilton ($604,034), Tauranga ($763,422), Whangarei ($548,568) and Queenstown ($1,202,625) all have higher average property values than Christchurch.
A QV spokesperson attributed the majority of growth in Christchurch to stronger sales in Banks Peninsula and the hill suburbs.
"The Christchurch suburbs that have experienced the greatest value increases year on year to December include Sumner (6.8 per cent), Scarborough (6.5 per cent), Charteris Bay (5.6 per cent), Cashmere (5.4 per cent) and Clifton (5 per cent).
"Akaroa and Duvauchelle have experienced the greatest growth in the Christchurch city district with 11.6 per cent and 9.2 per cent growth year on year respectively."
The Waimakariri district also recorded an increase of 1.8 per cent and Selwyn 0.6 per cent. The average value of a residential property in Selwyn is now $558,645, while the average in Waimakariri is $456,265.
