Canterbury inventory appears to have topped out, maybe returned towards pre-earthquake numbers. However supply continues to drop lower, this year there are 200 fewer dwellings advertised than last year, that’s about 20%.

In direct contrast to other centres, there were too many properties in Christchurch for the last few years simply due to Government interference in the construction industry. The population has obviously scarpered and too many new houses were built. This now looks like it may have reached close to equilibrium. Its difficult to know where the long term average was prior to the earthquake, but I suspect it is around the level of 2010, i.e. right where we are now!

The impact and aftermath of the earthquake can also be seen when comparing rents to household income, all major Canterbury region rents rising post earthquake but returning to the pre-earthquake average last year.

The National line is compared to the National Average Household income.

Jonette 2011