Quake group urges patience in buying new land

8:13 am on 20 August 2011

An earthquake recovery community group in Christchurch says people in the residential red zone need to avoid panic buying new land.

About 6000 homeowners in Christchurch, Kaiapoi and Pines Beach have been told their land has suffered so much earthquake damage that it will have to be abandoned.

The Government has sent out the first round of offers to about 3000 of those owners. The Canterbury Earthquake Recovery Authority (CERA) says it is possible that could flood Christchurch with buyers and drive up the price of available land.

A spokesperson for the group canCERN, Leanne Curtis, says some people are already getting loans to buy new land that may not withstand aftershocks.

She says red zone residents need to be patient, because it could take years for new subdivisions to be developed.