Where should you buy in Christchurch? NZ Mortgages

The Christchurch property market has kicked off 2025 with a bang.

More homes are hitting the market, interest rates are dropping, and first-home buyers are seizing the opportunity. Based on the data and observations in the NZ Mortgages office, several key suburbs are leading the charge.

For buyers looking under $650,000, New Brighton remains a standout, offering three-bedroom homes on generous sections for prices still within reach. Redwood and Belfast are also popular, with good affordability and community appeal. Hoon Hay’s market has strengthened, offering buyers excellent value. Hornby, once seen as primarily industrial, has transformed into a vibrant residential hub, attracting both homeowners and investors.

We also see in suburbs like Woolston (dubbed “Coolston” by some), investors and first-home buyers are going for it. A prime location just minutes from the CBD, it’s an attractive option for those wanting affordability and proximity. New townhouses in Waltham, Woolston, and Linwood are fast gaining traction, especially as Christchurch’s stadium nears completion, promising increased rental demand in surrounding areas.

Why so many listings? There’s been a 37% increase in investor property listings compared with last year. Many investors who bought in 2020-21 are offloading properties, either cashing in on capital gains or moving on due to high interest rates. This presents a golden opportunity for first-home buyers to enter the market with more choices available.

Are buyers paying more or less? Despite an influx of listings, sellers are largely realistic with pricing. First-home buyers are securing new two-bedroom, two-bathroom homes in Woolston and Waltham for as low as $510,000, a rare find in Wellington, Auckland, or Hamilton. With increased supply and steady demand, 2025 is shaping up to be a prime time, whether you’re looking for a standalone home in a traditional suburb or a modern townhouse close to the city.