Nelson-Tasman house prices jump

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The value of houses in Tasman increased by 9.8 per  cent over the past year and 3.4 per cent over the past three months, the latest QV figures released on Tuesday show.

The average value of houses in the Tasman district is now $456,144. Nelson home values increased 11.4 per cent in the year to June and 3.1 per cent over the past three months – the average value in the city is now $460,495.

QV homevalue Nelson Registered Valuer Craig Russell says “there is no sign of a winter slow-down in the Nelson residential property market with values continuing to climb in ideal market conditions for vendors.”

“We are experiencing a seller’s market with a low supply of homes listed for sale and strong demand driven from cheap lending rates and the Auckland flow-on effect where investors are looking to the regions for better yields.”

“There is a clear shortage of listings on the market with some agents having few properties left on their books.”

“No price marketing such as tenders or auctions have become more common as vendors don’t want to put a cap on a potential sale price which are often exceeding expectations.”

“We have seen a lift in land values in recent months across the board. New developments in the likes of Motueka traditionally have lower land values and are popular with younger people taking advantage of KiwiSaver first home incentives and lower deposit requirements on new builds.”

“We have seen increased activity and interest in executive quality homes particularly around Richmond.”

“Given the regions ageing population low maintenance centrally located flats have been selling well and often sell in a short time frame.”