A Christchurch couple has received the first residential red-zone property payout from the Government.
Keith and Margaret Moran of 69 Fleete Street in the Dallington suburb of the earthquake-hit city, moved into their brand new home 40 years ago.
They raised their family in the home, which was damaged in the recent Canterbury earthquakes.
The Morans now plan to buy the home they have been renting in the Redwood area of Christchurch.
Canterbury Earthquake Recovery Authority Chief Executive, Roger Sutton, said the first settlement was significant.
He said: "We know this is a really hard situation for many people, but for those ready to move on we're going to help them do that as easily and quickly as possible."
The Morans, who owned the property, took option two which meant the Government bought their property at the land value.
The couple worked separately with their insurer and EQC to resolve their insurance claim on their home and buildings.
Mr Sutton says it is a very difficult time for many people having to move from homes and communities they have lived in for years.
He said: "In the case of Keith and Margaret, they'd lived in their home for 40 years since it was new, and it's where they brought up their family. But now at least they can move on and buy the house they've been renting in Redwood.
"Since this first payout, we made another within hours and the pace of these will increase greatly in the coming weeks as individuals work through their situations and settlements made.
"But I want to remind people again that they've got plenty of time to consider what is right for their circumstances and they shouldn't rush their decisions. They should also get legal advice."
CERA has sent offers letters to 4,853 residential red zone homeowners.
To date, 246 have responded wanting to take up option one, while 285 have said they want option two.