Red-hot for sellers: Christchurch housing market continues to boom, Ray White says

11 Peel Street, Strowan. Photo / Supplied

The Christchurch housing market is continuing to boom.

Ray White New Zealand South Island Regional Manager Jane Meyer said the auction property market remained red-hot for sellers.

No less than seven properties sold through their auction campaigns this week.

Six went under the hammer and one sold prior for a combined total value of $3,522,000.

"There seems to be no let-up at all in the engagement and activity between bidders and buyers at the moment

"One of the really interesting trends we've seen this week is the strength of interest across all price points," Meyer said.

Ray White saw properties ranging from $275,000 to $1,350,000 sell.

Meyer said that shows all price brackets are responding well to auction as the method of sale.

The standout auction came from Ray White Metro Salesperson Rebecca Toone as 11 Peel Street in Strowan sold for $1,350,000.

"The Christchurch property market is booming with low interest rates, the rebuild of the city well underway, and the perceived safety of New Zealand as a whole.

"The campaign attracted 68 groups through and that translated into three registered buyers on the day. The winning bidders will now relocate back to Christchurch from Auckland," Toone said.

Elsewhere, 1 Kestrel Place in Woolston sold for $422,000, Upper Riccarton's 12 Hillary Crescent sold for $400,000, 6 Sophora Place in Parklands sold for $300,000 and 5/589 Barbadoes Street in St Albans sold for $275,000.

It follows last week's announcement that house prices in Christchurch have hit a record high.

New data from the Real Estate Institute of New Zealand shows the median price in the city was $503,000 as of September.

That's up from $495,000 in August and $475,000 from the same time last year - a 5.9 per cent jump.