Some 6090 (77.4%) homeowners in Christchurch’s “red zone” – where rebuilding after the 2010/11 earthquakes is deemed impossible or uneconomic – have agreed to sell their properties to the Government and move elsewhere.

Canterbury Earthquake Recovery Minister Gerry Brownlee says it is “an overwhelming endorsement of the process” and householders are “making plans to move from the worst-affected suburbs to a new life on safe land”.

Offers have been made to the remaining 1770 red-zone homeowners, who have 12 months to respond.

Of the 6090 who have agreed to sell, 4775 have settled for a combined total of $NZ947 million ($753.5 million). About 50 new acceptances are being received every week.

There are only eight houses on land that has yet to be classified red or green (safe) and only one red-zone homeowner has refused the government buyout offer, which is based on rateable values in 2007.

The offer has two options: sale of house and land or sale of land, with the homeowner claiming on their private insurance for the house value.