property prices


PHOTO: DON SCOTT/STUFF Property prices in Riccarton have fallen 2.2 per cent over the past five years, according to REINZ.

If massive property gains are what you are after, data shows Christchurch is probably not where you want to be sinking your money.

The booms and busts of house prices are often what we hear most about, but why do house sale prices in some suburbs stagnate year after year?

Data from the Real Estate Institute of New Zealand (REINZ) shows that when it comes to zero or almost zero capital gains, suburbs in Christchurch have sat at the top of the table over the past five years.

REINZ chief executive Bindi Norwell said seven of the 10 least-changed suburbs across the country were in the western suburbs of Christchurch, with the remaining three appearing in the wider Canterbury region.