18 Mar 2013

Fendalton loses top spot for priciest properties

6:15 pm on 18 March 2013

For the first time, the western Christchurch suburb of Fendalton is no longer the city's most expensive area in which to buy property.

Figures from the Real Estate Institute show Northwood has taken over with an average property price of $784,250.

A director of the real estate company Ray White Northwood, Craig Munro, says homes in Northwood are built to the latest building standards, unlike many older properties in Fendalton.

He says his company sold 21 houses in Northwood between December and February,and the median price was $695,000; the highest price paid for a house there during that time was $1.8 million.