$2.38b worth of new buildings consented in 12 months

Some 4030 new buildings were consented in Christchurch between April 2015 and March 2016, for a total value of $2.38 billion.

The value of building work done in Christchurch over the past 12 months is among the interesting facts and figures included in the Canterbury Development Corporation's monthly economic snapshot for April 2016.

The snapshot looks at the key economic indicators for Christchurch and Canterbury. It shows:

• For the 12 months to March 2016, Christchurch has gained 5835 new residents while Canterbury gained a net of 7053 people.

• Christchurch and Canterbury real estate markets showed an increase in house prices in April, reaching new record highs of $450,000 and $427,000 respectively.

• Rents have eased. In April 2016, the average rent in Christchurch and Canterbury were $389 and $383 respectively.

• April 2016 saw further falls in diary prices (-1.6 per cent) – the sixth consecutive fall since October 2015. A lower NZD exchange rate will continue to offset the effect of low international prices. Outside diary, commodity prices declined overall by 0.3 per cent.

• The Canterbury tourism industry keeps recovering well with guest nights 6.8 percent up from the previous year and international spending in Christchurch up by 3 percent from a year ago.

• The view from CDC’s economic analysts: overall we expect Christchurch to continue to have high levels of activity in 2016 as the economy transitions back from a focus on the rebuild to the traditional underlying economy.

For a full, in-depth view of the Christchurch and Canterbury Economy join Tom Hooper, CDC Chief Executive at the next Economic Update, June 8, at the Transitional Cathedral from 7.30am. Registration is free, RSVP by 31 May.

Read the full monthly economic snapshot