The Christchurch City Council will need to wait for the findings of an independent review, before work on five dangerous properties on New Regent Street can go ahead.

The street has remained cordoned off since an engineering report, commissioned after the Valentines Day quake found the buildings were dangerous and earthquake prone. The street is still open to foot traffic.

The council says it received a formal proposal from engineers yesterday, which were hired by the properties' owner. The proposal will be reviewed by a third party before any decision is made on the next steps.