Houses value increase outside Christchurch

12:31 pm on 9 August 2011

Christchurch people moving to undamaged towns in Canterbury since the earthquakes are likely to pay more, following a jump in the value of houses outside the city.

Values have risen 4% in Ashburton, about 2% in the Selwyn district and 3% in Waimakariri In the past three months.

Quotable Value says prices in outlying towns have risen mainly because of demand from displaced red zone residents.

The agency says values have risen about 1% in the past three months in Christchurch city and are just above where they were this time last year.

QV says the increase is due to high demand for properties in the largely undamaged northern and western suburbs.