45 The slow rise in Christchurch values during 2015 and 2016 has now been replaced by a slow decline. With buyer demand so weak, this will likely lead to a further drop in sales activity, which in turn will mean that values are likely to keep sliding throughout winter. Average Value of Housing Stock - Christchurch Annual and Quarterly Value Change - Christchurch April 2017 Current Value 3 months 12 months Since Peak Banks Peninsula $500,781 -2.6% -3% 4% Christchurch Central & North $585,099 -0.6% 2% 32% Christchurch East $370,913 -0.1% 0% 20% Christchurch Hills $672,285 0.8% 1% 22% Christchurch Southwest $475,239 -0.4% 3% 40% Christchurch Values