46 The slow steady increase in values from 2014 to 2016 has been replaced with a slightly negative trend throughout 2017 with the latest three months seeing a drop of 1.0%. The average property has fallen by almost $10,000 since November last year. Values in Banks Peninsula have recovered from the value lost in the earlier part of 2017 to have the same average value as September 2016. Christchurch Hills hasn’t seen such recovery – now 5% down on the same time last year. Average Value of Housing Stock - Christchurch Annual and Quarterly Value Change - Christchurch September 2017 Current Value 3 months 12 months Since 2007 peak Banks Peninsula $513,416 1.1% 0% 7% Christchurch Central & North $580,029 -1.1% -1% 31% Christchurch East $370,754 -0.4% -1% 20% Christchurch Hills $649,101 -2.3% -5% 17% Christchurch Southwest $471,582 -0.9% 1% 39% Christchurch Values