Canterbury apartment prices command almost $250,000 more than in the capital

• Average asking price of Canterbury apartments rose 39.5% in October
• Auckland and Wellington apartments decline in price by 11.7% and 20% respectively 
• Quarter of a million-dollar price gap between Canterbury and Wellington apartments.

The average asking price for an apartment in Canterbury is almost a quarter of a million dollars more than in the capital. 

Latest data from realestate.co.nz showed the asking price for apartments in the Canterbury region was $807,348 in October 2025, an increase of 39.5% on the same time last year.  

Meanwhile, both Auckland and Wellington saw significant declines in apartment prices in the past 12 months. The average asking price for apartments in Auckland fell 11.7% to $673,114, while Wellington dropped 20.0% to $561,625. 

Vanessa Williams, spokesperson for realestate.co.nz, says this data suggests Canterbury’s urban appeal is increasing.   

“Christchurch is rapidly maturing into a city of choice for the next generation. Its infrastructure and development, public transport vision, urban design considerations, and accessibility, are creating demand, which is now being reflected in apartment values.” 

The nearly $250,000 price gap between Wellington and Canterbury apartments also indicates buyers are clearly recognising the value of property in the south.  

“A high-spec apartment in Christchurch may now offer more long-term liveability, stability, and return than a comparably priced unit in the capital,” Williams says. 

Meanwhile, the last time Wellington’s average apartment asking price was in the $800,000 bracket was in May 2023, when the region recorded its highest asking price of $818,597. 

Canterbury was also the only region of the three to record an increase in new apartment listings during October, up 3.8% on the same time last year. Auckland’s new listings declined 6.0% year-on-year, while Wellington’s new listings fell 11.5%. 

“There are fascinating factors at play in the Canterbury region at present, with Christchurch City’s consistent population growth and growth in liveability initiatives born out of the revitalisation of the city. This could be driving the rise in the region’s apartment market pricing as centrally located, lower maintenance living has increasing appeal for Kiwis,” Williams says. 

For media enquiries, please contact:

Hannah Franklin | hannah@realestate.co.nz

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