Investors choosing apartments in Christchurch over pricey North Island homes
North Island investors are turning their backs on higher prices in their home cities to snap up central Christchurch apartments.
The city has had a noticeable upswing in out-of-towners buying apartments and townhouses in the past few months.
"When average prices are $500,000 in Christchurch and $1 million in Auckland, you can certainly see the appeal," said Kelvin Davidson, senior economist for property analysis firm CoreLogic.
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