Six-hundred new homes are set to be built in Christchurch.

The Building and Housing Minister has just announced plans for a new housing development on a section of Riccarton Racecourse between Yaldhurst and Steadmans Roads in Riccarton.

The government's introducing new legislation so the project can be fast tracked, with Ngai Tahu signing on as developer.

Nick Smith says 30 per cent of the homes will sit on or below the $450,000 mark.

"This is going to provide 180 further homes in that category.

"The big concern the government's got is while there's a large number of homes that are being built in Christchurch, less than 10 percent are in that price range."

Construction is expected to begin later this year.

Dr Smith says the project follows an extensive amount of work that's already been done in the city.

"If you look at the Ranges Park Development, that's complete. If you look at the temporary villages that were built in Kaiapoi, that is done."