The 22 February earthquake was felt widely, including across the whole of Canterbury. The epicentre was near the centre of Christchurch, but the shaking and liquefaction extended much further.
Building multi-unit developments has given some Christchurch property developers a champagne lifestyle, including private jet travel. But the market is over-supplied, and investors are less keen as interest rates rise.
Style
As New Zealand’s second city, Christchurch is a place of rejuvenation, cultural creativity and restoration. While the earthquakes that wreaked havoc in 2011 and the terrorist attack at two Christchurch mosques last year may have put this South Island hub on the international stage, it’s the city’s ability to re-imagine itself into something stronger and more hopeful that’s captured the hearts of people around the world.
The city’s downtown is an animated scene of rejuvenation, new buildings and creative enterprises. Its historic buildings celebrate a proud past, while quirky art galleries, cafes and bars showcase a thriving future. Whether it’s shopping for fresh local produce at the farmers’ markets or indulging in a spa treatment, there’s no shortage of ways to relax and unwind.
Located on the Avon River, Christchurch is the capital of the Canterbury region in the upper east of the country’s South Island. The city is a key port and has an extensive railway network. Its chief exports include meat, wool, dairy products and wheat; its imports are petroleum products, fertilers and iron.
The city is a major centre for agricultural processing, including the manufacture of woolen and agricultural implements, transportation equipment and furniture. Its economy is also dependent on tourism. The city is home to the University of Canterbury and several research centres, as well as a number of museums and galleries.
Features
In addition to Christ Church Cathedral, which features a mixture of Romanesque and Gothic architecture, the city offers numerous architectural and cultural attractions. One is the ruins of St Martin’s church and the Abbey, a medieval place of pilgrimage. Another is Christ’s College, an old collegiate school founded in 1878 and now a constituent college of the University of Canterbury.
The city is served by an international airport and the South Island Main Trunk Railway. Its chief exports are meat, wool, and dairy products; major imports include coal, petroleum products, fertilizers, and iron and steel.
Christchurch also has botanical gardens, a planetarium, and museums, including the Canterbury Museum, Yaldhurst Museum of Transport, and the Arts Centre. The recently opened Justice and Emergency Services Precinct brings together all of these institutions in a state-of-the-art facility that’s designed for innovation and collaboration. This leading-edge complex is expected to return justice and emergency services to the city and its region not just to their pre-earthquake states, but also to positions that enable them to serve citizens more effectively in the future.
Budget
Christchurch is New Zealand’s second largest city and a center of cultural creativity and restoration. The city was thrust into the spotlight after a series of earthquakes and a terrorist attack on two mosques, but has quickly grown into a global symbol for resilience and hope.
Property investors who invest in Christchurch typically focus on New Build townhouses, rather than standalone houses. These properties offer a higher rental yield and are more affordable than standalone houses in the city’s inner suburbs. However, it’s important to keep in mind that property prices in Christchurch can be a bit higher than other cities in New Zealand, which could make the city more expensive for buyers.
Opes currently recommends a range of Christchurch investment properties, starting at around $539,000 for an entry-level two-bedroom townhouse. These properties can rent for $480-$550 per week.
If you’re looking to invest in Christchurch, start by creating a plan with your property partner and then finding properties that fit your budget. Then, your partner can help you find the perfect home for you. To learn more, contact the team at property video Christchurch