Christchurch recorded the strongest house price growth of any main centre in the country over the December quarter, according to the latest QV House Price Index.

Residential property values across Christchurch City rose by 2.5 percent over the 3 months to December 2025, lifting the average home value to $791,541.

Values were also 3.3 percent higher than at the same time last year, continuing a steady upward trend across most parts of the city.

Growth was broad across Christchurch and neighbouring districts including Selwyn and Waimakariri. Christchurch City West recorded the strongest increase at 5.2 percent, while Christchurch City Peninsula was the only part of the city to record a decline, down 1.0 percent over the quarter.

QV Christchurch Registered Valuer Michael Tohill said strong value increases were evident across several areas and activity across the metropolitan market remained solid.

“Listing numbers remained elevated, while selling times continued to shorten, reflecting a market functioning well,” Tohill said.

“Demand remained particularly strong in the $1 million to $2 million price range, with competitive bidding and solid sale prices being achieved.”

Tohill said building activity across Christchurch, Selwyn and Waimakariri remained steady, with builders reporting healthy forward work programmes extending well into 2026.

He said pressure persisted in some parts of the market.

“The townhouse sector continued to face pricing pressure, largely due to ample supply and new stock still coming through the development pipeline,” Tohill said.

Nationally, average residential property values rose by 1.1 percent over the December quarter, taking the national average to $910,118. That figure was 0.9 percent higher than a year earlier, but remained 13.1 percent below the nationwide market peak of January 2022.

Among the main centres, Hamilton recorded the second strongest quarterly growth at 2.1 percent. The Auckland region saw a modest increase of 0.8 percent, while Dunedin rose by 0.4 percent. Wellington City was the only major centre to record a decline, down 0.5 percent over the quarter.

Across other regional centres, Invercargill recorded the strongest growth at 3.3 percent, followed by Rotorua at 2.6 percent, Whangarei at 2.5 percent, Nelson at 2.3 percent, Whanganui at 2.1 percent, Queenstown at 1.4 percent and Gisborne at 1.0 percent. Tauranga, Napier and Palmerston North recorded more modest increases of between 0.8 and 0.9 percent.

Small declines were recorded in New Plymouth at 1.0 percent, Marlborough at 0.5 percent and Hastings at 0.4 percent.

QV National Spokesperson Andrea Rush said the December quarter marked a shift after a prolonged period of flat or declining conditions through much of 2025.

“The latest data showed value increases becoming more widespread across the country, even though the pace of change remained modest in many areas,” Rush said.

“A clear majority of the areas we measure recorded quarterly growth, indicating value movements were now occurring across a broader range of regions.”

Rush said high housing supply continued to influence market conditions.

“With the number of homes for sale nationwide at the highest level in a decade, buyers continued to have the upper hand, with more choice and the ability to negotiate,” she said.

“This kept value movements in check, even as activity improved in some areas. That dynamic also contributed to improved affordability in relative terms, particularly for first home buyers.”

She said buyer preferences were shaping outcomes in larger centres such as Christchurch and Auckland.

“In many cases, buyers were choosing houses on their own sections offering more storage, privacy, living space and carparking over townhouses or apartments that lacked these amenities and were often not significantly cheaper to purchase,” Rush said.

Looking ahead, Rush said early indicators pointed to a more stable outlook into 2026, although some uncertainty remained.

“An election year could create caution at times as buyers and sellers took a more wait and see approach,” she said.

“As a result, any change in values was expected to be gradual rather than rapid.”