House prices in Christchurch are continuing to increase with previously affordable areas becoming more pricey.

The latest QV figures show home values across Christchurch have increased 0.5 percent over the past three months and 4.3 percent year on year.

While Christchurch central and North areas had the biggest three month jump of almost one percent, property prices around the Hills have dropped a huge 2.2 percent in just three months.

QV registered valuer Daryl Taggart says first home buyers now have to widen their search to find affordable housing under $400,000.

He says properties coming back onto the market after earthquake repairs are now commanding much higher rents which is evident in the property market.