After the Christchurch earthquakes, numerous pieces of legislation were passed giving the Crown extraordinary powers to govern the region’s recovery. This bill seeks to remove some of these powers that are no longer needed.
The city centre was largely razed by the February earthquake. Many people lost their homes and dozens were killed when the CTV building collapsed.
Investing in Christchurch city properties is a popular option for passive investors looking to park their money long-term. This type of investor tends to buy affordable 2-bedroom townhouses in places like Addington and Linwood – or even satellite towns such as Halswell. These types of investments typically have low maintenance and deliver rental returns in the $400-$550 per week range. However, those with larger budgets may choose to invest in a New Build standalone house closer to the city centre where prices are expected to grow faster.
Navigate the map to see which Christchurch suburbs are growing in value fastest – and find out where you could make the best investment.
The city of Christchurch has been in the spotlight worldwide after a series of devastating earthquakes almost a decade ago and the horrific shooting at two mosques in March. But beyond the destruction and loss of life, the town has become a hallmark for hope through its rebuilding, revitalization and cultural creativity.
The architecture of this New Zealand city is as distinct as its local culture. Known as Christchurch Style, it’s a distinctively modernist style that was popular in the region in the mid-century. Authors Gaudin and Arnold, who co-authored a previous book Down the Long Driveway, You’ll See It, chose to highlight this architectural movement in their new release. “In the same way that one can’t talk about New Zealand music without mentioning Dunedin Sound, it’s impossible to discuss modernism in this country without considering Christchurch Style,” Gaudin said in an interview with Dezeen.
One example of Christchurch’s distinctively Z-shaped homes is a $9.5 million house under construction in the suburb Fendalton. It will have a gym, three-car garage and multiple living areas. Its design by Auckland firm RTA Studio has won it a number of awards and earned it both resource and building consent, according to Bayleys Canterbury real estate agent Will Blake. The home will also have an orangerie, a garden room similar to a conservatory.
Christchurch has become one of New Zealand’s most important industrial centres, aided by well-developed transportation facilities and abundant supplies of artesian water and hydroelectric power. Its chief products are meat-freezing, woolen and agricultural implements, rubber, wood and cork goods, soap, fertilizers, glass, and footwear. The city is also a cultural centre with botanical gardens and a planetarium and the Canterbury Museum, Yaldhurst Museum of Transport and Science, and several galleries.
Founded by the Canterbury Association, a Church of England colonizing project, the city was named for Christ Church, Oxford, where its founder, John Robert Godley, studied. It is New Zealand’s second-largest urban area, with a population of over 300,000 people. In late 2010, and early 2011, a series of earthquakes devastated the city’s central business district, killing 185 people. Efforts are under way to rebuild the area. The cathedral, which occupied the site of the original building that was destroyed, is a focus of controversy: The city’s court-appointed trustees have ruled that the cathedral must be rebuilt in Cathedral Square, but that it does not have to replicate the prequake structure.
Christchurch property prices are lower than the national average, so it makes sense to invest here. However, it may not be the best place to invest if you’re hoping to get high rental returns. The city’s market has slowed this year, but it hasn’t suffered the same drop as other major cities.
Opes’ current recommendations for Christchurch include 2-bed townhouses in new developments, which start at $539,000. These properties typically rent for $480-$550 a week. They offer excellent cash flow and are expected to grow in value by 4-6% a year. However, if you’re willing to spend $750,000, you can buy a standalone house in Rolleston or Selwyn that should produce a higher gross rental yield.
If you’re interested in buying a home in Christchurch, check out this map to see which suburbs are growing in value the fastest. The blocks on the map represent different areas and are color coded based on how quickly house prices have grown over the past 20 years. Click on a block to find more information about its location, price range, and amenities. property video Christchurch