Christchurch's spring market hasn't turned up yet
Selwyn and Waimakariri are ticking along much as usual. In the city, fewer people are buying, though prices are holding. Caleb Griffioen went through September's REINZ sales data for all three districts.
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The REINZ figures come out each month, and the median price gets the headline. Under it is a lot more detail: which suburbs are selling quickly, which homes are sitting, and how sale prices compare with rateable values. So I went through September's sales data for Christchurch, Selwyn and Waimakariri to see what the median wasn't telling us. The short version is that Christchurch is having a quiet spring. The other two districts are carrying on much as they have all year. September at a glance Christchurch City, Selwyn District and Waimakariri District Christchurch Selwyn Waimakariri Median sale price $715,000 $783,000 $740,000 Change on Sept 2025 +1.8% −1.5% −3.1% House Price Index, annual change +2.5% +2.1% +1.2% Sales 610 144 108 Sept 2025 722 149 104 Median days to sell 42 45 37 Sept 2025 37 35 49 Sale price vs rateable value +5% +3% +4% Total value of sales $505m $123m…
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Price and pace, a year apart REINZ official figures, September 2025 compared with September 2026 September 2025 September 2026 Median sale price $702.5k $715k $795k $783k $763.5k $740k Christchurch Selwyn Waimakariri Median days to sell 37 42 35 45 49 37 Christchurch Selwyn Waimakariri Source: REINZ Christchurch is waiting for spring Spring is meant to be when the property market wakes up. In Christchurch it's hit snooze. The city recorded 610 sales in September, down from 722 a year ago. Across the past 12 months, Christchurch averaged about 707 sales a month, so September came in well under its usual pace. Sales have dropped every month since May. Last year, October brought 845 sales. This year the trend is heading the other way. Monthly sales, September 2025 to September 2026 Septembers highlighted.
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