Christchurch land identified as likely to suffer damage in future earthquakes is not taking the hit in price that was feared, a Christchurch property valuer says.
About 28,000 properties are on land zoned TC3, which means it is more likely to suffer liquefaction in future earthquakes.
Knight Frank property developer Will Blake said there had been fears there would be a stigma against TC3 land but that was not what he has seeing.
"There's probably a little bit of a drop but it's quite hard to measure," Mr Blake said.
"It's just not apparent when we analyse the sale prices that are being paid, there's no material difference or discount in price as opposed to what they might have been selling for had they not been TC3."
The price would depend on the extent of damage to specific sites but, overall, Christchurch properties were all benefiting from the buoyant market, he said.
But Hugo Kristinsson, the owner of one of Christchurch's most severely damaged properties, said he did not believe TC3 sections had not dropped in value.
Mr Kristinsson, who is running for Christchurch mayor, said he knew of TC3 owners who had been attempting to sell their properties for months with no interest.
He believed only TC3 properties near a planned raised coastal pathway, which the council was contributing $9 million towards, were holding their value.
"This significant investment by the council contributes to the price of this property, I believe, because there other areas in Christchurch which are not getting any flood protection and the land is eroding away," Mr Kristinsson said.
The council was making a considerable investment to protect some suburbs, while others were being left to erode away and should look at more widespread flood protection work, he said.