Christchurch city experienced little to no growth in the last year with the average property price reported in August being $465,000.
Nonetheless, 40% of people in Greater Christchurch are living in rental accommodation. With no significant drops expected in the foreseeable future, the weekly average rent is set to remain around the $420 mark.
If you’re one of the 30,000 Christchurch landlords, myRent can help to manage and advertise your property. myRent offers simplified, flexible, intuitive property management for only $15 per month and Christchurch property advertising on myRent, realestate.co.nz, OneRoof, Facebook, Trovit and myRent and for a one-off fee of $50, and Trade Me and Homes.co.nz listings for an extra $140.
What does the average renter in Christchurch looks like?
36 Years Old
Number of renters in each age category
30% tenants are born overseas
Median renters household income
$60,000 - $70,000
Low income households are less likely to rent
Households on low incomes are less likely to be renting if they lived in Christchurch than if they lived in other metropolitan areas.
Renters sources of income
Wages - 71%
Welfare benefits – 15%
Self-employed – 11%
Interest / dividends – 5%
Accommodation Supplement – 5%
Superannuation – 5%
Pension annuities – 4%
Rent – 3%
ACC – 1%
Other – 6%
71% drive to work and it takes on average 20 mins
Typical household size
78% of households tended to be of typical size of four persons or less.
57% tenants are married or de facto
Number of bedrooms preference
Number of cars per household
Number of renters who have access to internet
Number of renters who have access to mobile phone
Average rent in Christchurch is $420
Apartment - $428
Townhouses - $410
Units - $320
1-2 Bed Place - $350
3-4 Bed Place - $450
5- Bed Place - $750
Most common tenure
1 year fixed term agreement
46% tenants had moved in the last two years
Biggest reason to leave previous place
Tenant's biggest concern
Property repairs and maintenance
Half of Christchurch tenants are satisfied with rental property repairs and maintenance. Even though cracks and other damage caused by the earthquakes are common, people tend to put up with them without much complaint.
Tenants ability to save
Just over a third of tenants are able to save or invest money, with Christchurch having a highest median savings of $10,000 in the country.
Top 3 things tenants would like to improve in their current property
Tenants and Discrimnation
Almost a quarter of Christchurch tenants thought they had been unfairly turned down when applying to rent a property
Relationship with landlord
A good relationship with the landlord was highly valued and a majority of tenants preferred dealing directly with a landlord rather than through a property manager
To see how myRent can help you with rental property management in Christchurch and to make your property advert seen by more potential tenants, follow the link below.
Sources of stats: ENZ (2017). House Prices in Christchurch.. Property.trademe.co.nz. (2017). Tenants under pressure amidst record-breaking rents Statistics New Zealand. (2013). Profile and summary reports.. The New Zealand Rental Sector, Report ER22. (2017). [online] Auckland: SHORE & Whariki Research Centre, College of Health Massey University..