Median Price Dec 2024: $707,000
Median Price Dec 2023: $665,000
Median Rent Nov 2024: $550 p/w
Median Rent Nov 2023: $540 p/w
Population 2033 (Proj.): 716,000
Population 2023 (Proj.): 661.300
HPI Dec 2024: $707,000
HPI Dec 2014: $405,000
If you're considering property investment in New Zealand, Canterbury, located in the South Island, offers a range of compelling reasons to invest. Here are several factors that make Canterbury an attractive destination for property investors:
1. Strong Economic Foundations and Stability: Canterbury boasts a robust and diverse economy, anchored by agriculture, tourism, education, and technology sectors. The region's agricultural productivity contributes significantly to its economic stability, attracting both local and international investors seeking reliable returns and long-term growth.
2. Strong Population Growth: Canterbury is experiencing steady population growth, driven by factors such as natural increase, internal migration, and international immigration. The region's cities, including Christchurch, offer employment opportunities, quality of life, and affordability, making them desirable places to live for families, professionals, and students.
3. Affordability, Stability and Growth Potential: Compared to some of New Zealand's larger urban centres, property prices in Canterbury offer relatively good value for buyers. The region's affordability, combined with steady growth, population increase and its economic stability, presents opportunities for buyer to enter the market at a lower cost and achieve favourable returns on their investment.
4. Rebuilding Efforts after Earthquakes: Following the devastating earthquakes in 2010 and 2011, Canterbury embarked on an extensive rebuilding and regeneration program. This effort has led to significant investment in infrastructure, housing developments, commercial projects, transportation upgrades and healthcare facilities. Revitalizing the region's economy and property market by enhancing the region's connectivity, liveability, and attractiveness.
In summary, Canterbury offers a compelling investment proposition characterized by its economic stability, population growth, affordability, and rebuilding efforts. Whether you're looking for long-term capital growth or rental income, Canterbury's property market provides a range of options for buyers seeking to build wealth and diversify their portfolios.
Data sources: REINZ, Tenancy, Stats NZ