The government will have spent $2.45 billion of the $5.5b Canterbury earthquake recovery fund by June 30 this year, ministers say.

Another $2.17b will be spent in the financial year starting July 1.

Prime Minister John Key and Earthquake Recovery Minister Gerry Brownlee gave the budget update in Christchurch on Thursday.

They say the city's recovery is starting to hit its stride with new land on the market and subdivisions going ahead.

"The government has pulled out all the stops, including fast-tracking consent approval and developing the infrastructure," Mr Brownlee said.

The government's biggest price tag is $2.5b to repair infrastructure wrecked by the earthquake in February 2011.

Mr Brownlee says it's a massive task.

"In the next few months, the infrastructure rebuild will ramp up with work costing $40 million completed each month," he said.

"There are an estimated 120 to 150 work sites under way throughout the city at any one time, involving a workforce of 2500."

Work already completed includes 12,000 square metres of road repaired, 12.6km of waste water pipe installed and 9.5km of drinking water pipe installed.