The average house price in the Canterbury-Westland area is at an all-time high.
Sales figures for the month of June issued by the Real Estate Institute of New Zealand show the median house price in Christchurch is now $365,000.
The national average is $394,000.
Of all the regions surveyed, the institute said property prices in the Canterbury region have increased the most in the past 12 months.
REINZ director Bryan Thompson said prices have increased by 12.3%.
He attributed the jump to a rising imbalance between supply and demand, with the number of both newly built and existing houses falling well short of the demand.