Canterbury Property Market Update - August 2025
We saw minimal, but still positive, shifts in the market again this month as we ride out the last month of winter. With warmer days on the horizon, it’s yet to be seen what happens in terms of market activity, but with house prices on the lower side, plenty of stock available, and money relatively cheap to borrow - it still remains a buyers market.
Who is in the market right now?
First home buyers and owner-occupiers continue to dominate the buyers market across the region, with more and more investors starting to become active also.
Real estate agents report that open home attendance remains steady, especially for properties that are in desirable school zones or areas or are listed with an asking price. Pricing a property or offering a price guideline seems to be the way to go at the moment, especially if you are wanting a quick and clean sale.
However, auction attendance and clearance rates are also beginning to pick up a little, with good attendance reported and multiple bidders for many properties. Any properties that don't sell, are generally sold after the auction once parties have had a chance to negotiate.
It’s very clear that buyers are price driven at the moment and it’s up to vendors to meet the market realistically or risk missing out on a sale. We are generally seeing realistic pricing from most vendors (especially from those eager to sell) and many vendors are happy to negotiate on offers that come their way.
Canterbury sales statistics
The median house price for the Canterbury region in July was $677,600. This is up 0.4% on the month of June and up 4.2% from $650,500 compared to this time last year.
Christchurch City also saw a slight rise in the median house price, with the average sitting at $669,000. This is up 1.1% from $661,500 in June and up 3.2% from $648,000 compared to this time last year.
Here are the regional median house prices for the month of July, compared to July 2024. As always, it’s important to remember that some of these regions have very small sales numbers, so depending on the price of the home sold, it can have a large effect on the median price.
Ashburton District - median house price sits at $515,000, down 2.8% on this time last year
Hurunui District- median house price sits at $685,000, up 24.5% on this time last year
Kaikoura District - no median house price data recorded for this month
Mackenzie District - median house price sits at $616,000, down 6.7% on this time last year
Selwyn District - median house price sits at $794,000, down 0.7% on this time last year
Timaru District - median house price sits at $500,000, up 3.7% on this time last year
Waimakariri District - median house price sits at $715,000, up 6.7% from this time last year
Waimate District - median house price sits at $415,000, up 3.8% on this time last year
Regional sales information
Across Canterbury, there were a total of 1,132 properties sold in July. Compare this to the 1,088 sold in June and the 1,028 sold in July 2024 and there is undoubtedly starting to be a slight shift happen in terms of property turnover.
Christchurch City made for 712 of these sales - again up on the 668 sold in June and the 662 sold in July 2024 - another decent jump.
The average Canterbury property is on the market for 41 days before it sells, which is one day longer than compared to this time last year.
Overall, the local property market remains steady, with a slight increase in the median house price across the region, more houses selling than this time last year, and a decent range of properties available for buyers.
We expect to see things begin to pick up even more in the next month or two, as with the warmer weather, also usually comes an increase in both listings and buyers. While it’s unlikely house prices are going to make any major jumps anytime soon, they are slowly but surely moving in an upwards direction once more.
As we’ve mentioned before, now is a great time to buy, with prices still reasonable, interest rates lower, and lending still reasonably easy to get. If buying a home is on the cards for the end of 2025 or the start of 2026, then get in touch with our team and we can walk you through the entire process from start to finish. Our local team understands the Christchurch and Canterbury markets like the back of their hand, so we can help you make the right financial decisions for now and in the future.
Get in touch with our team and let’s help you take that next step in your home buying journey.