Christchurch house prices have stabilised and rents are falling, the Government says.
Building and Housing Minister Nick Smith says accommodation was one of the most complex and challenging problems after the earthquakes.
"Officials project that by June 2017, supply and demand will be back in balance and the Christchurch housing market fully recovered," he said today.
"There is strong evidence the housing market is recovering well."
Dr Smith says average rents have fallen eight percent in the past year, while the average house price increased only two percent.