Central City

Christchurch's Central City is one of the most striking urban-renewal stories anywhere. After the 2010-11 earthquakes levelled much of the old CBD, the area within the Four Avenues was rebuilt from the ground up into a low-rise, modern centre that blends bold new architecture with the heritage buildings that survived. The Avon River winds through it past the Avon River Precinct and the Canterbury Earthquake National Memorial, while landmarks like the Tūranga central library and the Margaret Mahy Family Playground anchor public life. On the western edge sprawls Hagley Park, at 165 hectares the largest urban open space in the city, with the Botanic Gardens at its heart. What makes the rebuilt centre compelling for buyers is the convergence of lifestyle and numbers. Hospitality has roared back at Riverside Market, Little High Eatery and the bars of Oxford Terrace and New Regent Street, and thousands of new apartments and townhouses have drawn young professionals, downsizers and students into the core. The result is unusual: the Central City posts the highest year-on-year price growth in Christchurch while still offering gross yields around 6%, comfortably above the premium suburbs. With major projects like the Te Kaha stadium completing, inner-city demand is set to keep building.

Central City in Christchurch, Canterbury Region, New Zealand