Cantabrian first-home buyers are dominating their local property market, accounting for around 40% of recent transactions, according to mortgage broker and financial advisory Squirrel.
Christchurch’s median sale price reached $700,000 in September 2025, up 2.64% year-on-year, with properties selling in an average of 37 days, according to REINZ and Harcourts Grenadier.
The entry-level buyer activity surge comes as Christchurch’s average property value increased by over 1.4% over the three months to June 2025.
Current market conditions indicate sustained momentum for first-home buyers, supported by relatively stable property values and selling timeframes.
Harcourts Christchurch says Canterbury has held steadier house prices than most New Zealand markets and is now showing clear signs of recovery.
Cotality says first-home buyers in New Zealand are maintaining record market share in the final months of 2025, supported by lower mortgage rates, below-peak property prices, and access to KiwiSaver savings, with nearly half of loans requiring less than a 20% deposit.
Cotality NZ Chief Property Economist Kelvin Davidson says lower mortgage rates and earlier price falls have changed the equation for first home buyers. “Many now find conditions workable in a way they did not during the previous cycle.”
He says that improving borrowing conditions indicate firmer market conditions in 2026 rather than a sharp rebound.
“Economic growth is expected to strengthen through 2026, with unemployment forecast to ease.
“Those factors should support sentiment and property values, although any uplift is likely to be measured, with lending constraints such as debt-to-income ratio rules continuing to limit the pace of growth.”
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