The cost of rebuilding Christchurch homes after the earthquakes has risen more than 40 per cent.

Subdivisions have multiplied, with almost 15,000 new homes in Christchurch consented since January 2011, together worth more than $4.6 billion.

Average costs of the new build increase in dollar terms are not held. But in the past five years, the average home in Christchurch city has risen by more than $120,000 according to the New Zealand Herald.