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Property Report - February 2025

Jeremy Kelleher
Jeremy Kelleher
17 March 2025

February kept things ticking along in the Canterbury market. The median price edged up to $707,000, a 0.3% lift on this time last year. While the pace wasn’t rapid, there’s a definite undercurrent of buyer interest starting to build.

All buyer types were active, but the standout was the steady confidence among first-home buyers and upsizers. Attendance at open homes varied across the region, quieter in Ashburton but strong in Christchurch and surrounding areas. While some vendors are still hoping for bigger jumps in value, most are meeting the market, and that’s where deals are happening.

Agents are reporting a shift in mood. Easing interest rates and higher market activity are helping lift confidence, and we’re expecting more buyers to re-enter the mix as that trend continues.

 

Quick snapshot

  • Canterbury Sales: 955 homes sold, down 3.4% on February 2024
  • Christchurch City Sales: 593, down 1.7%
  • Median Price: Canterbury up to $707,000
  • Christchurch Median: $675,000
  • Average Days to Sell: 41 (down from 45 this time last year)

 

What I’m seeing on the ground

Confidence is returning, especially among buyers who had been sitting on the sidelines last year. There’s less urgency than in past booms, but when the pricing and presentation are right, homes are moving. We’re seeing motivated buyers come through, particularly in the $600k to $900k range, and that’s keeping momentum going.

 

What to watch

If interest rates continue to ease and confidence keeps lifting, we could see a busy autumn. With more buyers expected to come into play, the sellers who act early will benefit from less crowded conditions and more decisive buyers.

 

What I’d tell sellers

While stock levels are still healthy, we’re starting to see signs that buyer activity is building. Sellers who are pricing smartly and launching strong campaigns are attracting good interest. If you're thinking of waiting until spring, this could be your window to get ahead while there’s less competition and more eyes on your home.

 

Want to know what your property could be worth in today’s market? We can show you how our Seller Portal gives you full visibility from day one and help you decide if now is the right time to take the next step.

Data sourced from REINZ Property Report - February 2025

Download full report here

Property Report - February 2025

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