The Canterbury Earthquake Recovery Authority says 26,000 sections should be coming to market for development in the devastated city of Christchurch next year.
Cera chief executive Roger Sutton told Parliament's finance and expenditure committee today that the pace of the department's work had accelerated since its inception last year, and it has paved the way for some widespread residential property development to house displaced locals.
"Six thousand sections within the greater Christchurch region are available for development," he said. "Hopefully by next year we will have those properties on market."
Property values are increasing in Christchurch, according to last month's Quotable Value figures, and ASB's housing confidence survey shows house price inflation expectations are greatest in the country's second-biggest city.
Mr Sutton said the speed with which it was moving had attracted all kinds of investors looking for greenfield opportunities and he was optimistic about the city's future.