- A luxury home in Christchurch sold for $6m, one of a clutch of top sales in the city in 2024.
- The property included a six-bedroom home and an adjoining 1120sqm section, attracting multiple offers.
- Agents expect more listings with the potential to break the $10m barrier.
A luxury home in arguably Christchurch’s poshest suburb sold for $6 million at the end of last year, OneRoof can reveal.
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The resort-style home on Pentlow Place, in Fendalton, had been on and off the market for the last eight years but attracted a new wave of interest once the vendors decided to sell the home with the 1120sqm section they owned next door.
The vendors had planned to sell the six-bedroom, four-bathroom home they built after the Christchurch earthquakes and then build a new home on the empty land.
But when their children left home they moved out of the city and decided to sell both.
The six-bedroom property on Pentlow Place was built in 2014 after the previous home was damaged in the Christchurch earthquake. Photo / Supplied
A purpose-built integrated media room provided an additional space to relax. Photo / Supplied
New Zealand Sotheby’s International Realty managing director for Canterbury Rosa Carter told OneRoof the 3224sqm offering was so much more attractive to buyers, with the listing agents receiving multiple offers.
“At that kind of price point people tend to want land and have privacy from their neighbours. That’s a common theme with higher-end sales. You might have a beautiful home that might justify a high sale price but purchasers definitely want land to go with it, which is harder to get,” she said.
The buyers were from Christchurch and had been looking for a home for their growing family, Carter said, adding that they now had land they could use for a tennis court, pool, or a second home.
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The $6m sale was one of several top-end deals completed in Christchurch in 2024, and Carter told OneRoof it was only matter of time before a home in the city broke the $10m barrier.
Last year, five Christchurch homes sold for $6m or more, with the top sale price exceeding $9m, for a large property in the hillside suburb of Scarborough.
Carter said there were homes built after the Christchurch earthquakes worth more than $10m, and some of them would likely come to market in the near future.
A four-bedroom, three-bathroom home with views out to Sumner beach is expected to sell over its CV of $5.125m. Photo / Supplied
“It took time for people to get their insurance settlements and for them to get built so they are hitting that five-to-seven-year time period now and of being in those homes and then going on to that next stage of life.”
Carter knew of at least one her agency would be listing later this year which was expected to nab over $10m.
“This year it wouldn’t surprise me if we have $10m-plus and then the next step is $15m-$20m. I honestly think within five years we will be [hitting] Auckland prices because we’ve got these beautiful properties.”
Harcourts Gold agent Cameron Bailey agreed. Christchurch had the properties and the buyers, but the houses just hadn’t hit the market for sale yet.
“There’s still a lot of room to move in Christchurch because if you look at Auckland, they are doing $5m, $10m, $15m sales a lot more often. I think the whole high-end market will go up in value in the next five years.”
Meanwhile, property sales of between $5m and $8m were becoming “a lot more normal”, he said.
He’s marketing a four-bedroom, three-bathroom property at 7 Scarborough Fare, in Scarborough, which is expected to sell for more than its CV of $5.125m. The fact that there had already been seven groups through it in just one week highlighted the demand for properties in this price range, he said.
The large Chris Wilson architecturally-designed home is on a big section with great views in one of the best areas in Christchurch, which is what people with bigger budgets were looking for, he said.
“All those things make a difference when you pay big money for stuff.”
- Click here to find more properties for sale in Christchurch
