Christchurch has seen its highest ever property asking price hit the market

A luxury home on Wood Lane in Fendalton is asking 9.75 million dollars, trumping the previous 8-million dollar threshold.

OneRoof editor Owen Vaughan says a property with this price tag is far more common in Auckland or Queenstown, and shows just how far the upper end of the market has come in Christchurch.

He says it's broken the record and then some, and is a sign of confidence in the market.

OneRoof-Valocity research predicts average house prices will return to February 2022 highs late next year - with Southland and Canterbury already close.