Crown deals done by 70% of red zone owners

3:15 pm on 15 June 2012

Canterbury Earthquake Recovery Authority says 70% of home owners in the Christchurch red zone have reached a settlement with the Crown.

The first land zoning decisions were made on 23 June last year and the first Government offers to purchase were sent to red zone residents in August.

Earthquake Recovery Minister Gerry Brownlee says the 5000th property owner signed a sale and purchase agreement with the Crown this week.

Almost 4000 of these have concluded settlement at a cost to the Crown of $762 million.