Nelson house prices rise again


Median house prices in Nelson and Richmond continue to rise increasing 12 per cent in Nelson to $420,000 last month compared to $373,750 August last year.

The latest Real Estate Institute of New Zealand figures show prices also rose nine per cent in Richmond over the last year to $421,000.
Sales volumes were also up across the region with a 34 per cent increase in Nelson to 83 in August this year compared to 62 in August last year. In Richmond, 26 houses were sold in August compared to 24 in August last year.
REINZ chief executive Colleen Milne says activity right across New Zealand continued to be very strong through August, with wintry conditions apparently no deterrent to sales being concluded.
“A rise in the number of new listings matched by the number of sales, showing that with more properties available for sale buyers have emerged to take up the additional supply. However, most regions still face a shortage of listings going into spring.”
Colleen says the presence of Auckland buyers in other regions is also becoming more noticeable with a surge in Auckland investors buying in Dunedin.
“Both first home buyers and investors are active, with an increasing level of interest coming from outside the region from buyers with longer term plans to move.”