The Star: September 17, 2020

The Star Thursday September 17 2020
12
NEWS
Latest Canterbury news at starnews.co.nz
Property values suburb by suburb
• By Matt Slaughter
MEDIAN property values in
all but four Christchurch and
Banks Peninsula suburbs have
increased in the last year.
New CoreLogic data shows
Scarborough’s median property
value is the highest at $1,161,300,
followed by Kennedys Bush
($1,132,300) and Fendalton
($1,130,150). These are the
only millon dollar suburbs in
Christchurch and Banks Peninsula.
However, Scarborough and
Fendalton are two of the few
areas where median property
values have decreased in the
last year. Values in Scarborough
have dropped by $24,400, while
those in Fendalton decreased by
$29,750, $8700 in Northwood
and $2850 in Richmond Hill.
All other suburbs saw increases,
with the largest occurring in
Hoon Hay ($27,700) and Wigram
($28,250).
The most affordable place to
buy in Christchurch is Phillipstown,
where the median property
value is $303,550. Aranui and
Linwood are close behind with
values of $314,500 and $332,600
respectively.
Values in these three suburbs
have increased by between about
$10,000 and $17,000 in the last
year.
HOT PROPERTY: This house on Taylor Ave, Fendalton, is
valued at between $1,225,000 and $1,295,000.
Merivale sits fourth on the list of the price range of many first
with a median property value home buyers.
of $998,000, a $3400 increase Properties in less expensive
compared to last year.
areas are in hot demand at the
Richmond Hill rounds out the moment and this is why most
top five at $911,650.
property values have increased.
Ray White South Island Low-interest rates are also
regional manager Jane Meyer responsible for this increase in
said the suburbs with the highest demand.
median property values have “It is very much a marketdriven
by first home buyers and
always been popular due to their
locations and the number of investors right now.
character homes in them.
“In our auction rooms, you just
However, she said the
see the need, the determination
reason why property values and the pressure for buyers to
have dropped in some
buy and that’s what’s probably
more expensive suburbs like determining price.
Scarborough and Fendalton is “We’re out-selling what we’re
properties in these areas are out actually listing,” she said.
Christchurch and Banks
Peninsula median property
values by suburb 2020
Scarborough — $1,161,300
Kennedys Bush — $1,132,300
Fendalton — $1,130,150
Merivale— $998,000
Richmond Hill — $911,650
Strowan — $862,950
Clifton — $856,700
Redcliffs — $790,650
Westmorland — $766,400
Huntsbury — $766,250
Cass Bay — $757,900
Cashmere — $753,050
Sumner — $741,550
Mt Pleasant — $739,700
Northwood — $702,850
Governors Bay — $697,400
Marshland — $677,500
Harewood — $670,400
Ilam — $659,300
Cracroft — $653,400
Waimairi Beach — $650,300
Charteris Bay — $639,150
Wigram — $624,750
Burnside — $606,700
St Albans — $595,550
Halswell — $575,750
Beckenham — $570,750
Avonhead — $565,750
Yaldhurst — $561,650
Casebrook — $554,800
Hillsborough — $547,950
Opawa — $541,750
Bryndwr — $540,700
Heathcote Valley — $527,150
Lyttelton — $524,800
Riccarton — $521,400
Middleton — $516,000
Papanui — $514,700
Parklands — $518,400
St Martins — $506,100
Somerfield — $505,200
Christchurch Central —
$498,700
Broomfield — $498,950
Russley — $495,550
Upper Riccarton — $490,950
Hillmorton — $483,600
Bishopdale — $471,400
Redwood — $471,000
Burwood — $460,800
Hoon Hay — $459,700
Shirley — $455,200
Hornby — $450,650
Belfast — $446,500
Mairehau — $436,200
Spreydon — $436,900
Hei Hei — $417,450
South New Brighton—
$395,850
Sydenham — $383,700
North New Brighton—
$382,450
Woolston — $376,900
Richmond — $372,900
Addington — $371,300
Avonside — $369,700
New Brighton — $365,050
Waltham — $343,800
Bromley — $348,600
Linwood — $332,600
Aranui — $314,500
Phillipstown — $303,550