45 The slow steady increase in values from 2014 to 2016 has been replaced with a gradual decline in 2017. This drop in values has been fastest in Banks Peninsula, followed by the Hills, whereas values in Christchurch East have remained flat. Average Value of Housing Stock - Christchurch Annual and Quarterly Value Change - Christchurch May 2017 Current Value 3 months 12 months Since Peak Banks Peninsula $493,919 -2.8% -2% 3% Christchurch Central & North $584,488 -0.8% 1% 32% Christchurch East $372,013 0.1% 0% 20% Christchurch Hills $658,809 -2.0% -1% 19% Christchurch Southwest $476,035 -0.6% 3% 40% Christchurch Values