While New Zealand’s property market remains stagnant with national average asking prices flat for over two years, Canterbury’s housing market is showing notable strength, according to the latest data from realestate.co.nz released today.

The region is defying national trends with rising median sale prices and steady demand, despite a seasonal dip in new listings.

Nationally, the average asking price fell slightly by 0.9% year-on-year to $855,360, reflecting a market that has yet to recover from its post-COVID peak in late 2021.

In contrast, Canterbury is a standout, with Christchurch recording a median sale price of $724,066 in June 2025, up 3.5% from the previous year. This growth highlights the region’s resilience amid a broader market slowdown.

The drop in the Reserve Bank of New Zealand’s Official Cash Rate (OCR) from 5.5% to 3.5% since August 2024 has bolstered affordability, particularly for first-home buyers in Canterbury.

Despite a typical winter slowdown, Canterbury’s property stock remains 15% above the five-year average, providing buyers with more options. Recent weeks have seen stronger sales volumes, slightly reducing total stock and indicating growing market confidence.

Christchurch’s relative affordability compared to Auckland ($975,000 median sale price in May 2025) continues to attract buyers.

Nationally, home prices remain high at roughly six times the average household income, posing challenges for affordability.