Atawhai sees strong demand in housing market

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Nelson home values rose 3.3 per cent over the past three months and 9.5 per cent year on year, according to new information released by QV.

The average value in the city is now $451,124.

The Tasman District also increased by 2.3 per cent over the past three months and 6.9 per cent year on year and the average value there is now $446,291.

QV homevalue Nelson Registered Valuer Craig Russell says the Nelson market remains strong with good levels of activity and demand.

“Auctions are achieving excellent results at present with prices obtained being significantly over vendor expectations in some cases.

“Listing numbers continue to fall which is contributing to strong demand across the board. Investors remain active in the market and we are seeing some good prices paid for flats in central Nelson.”

He says they are also seeing high prices paid for other locations close to good schooling. “Higher value properties in Atawhai are in strong demand with this location receiving good interest from out of town buyers.

“Atawhai has been a slow mover over the past three years with purchasers now seeing real potential in the area.”

The OCR remained unchanged in April however with the Reserve Bank governor indicating that further cuts could be expected later in the year which is giving buyers’ confidence that interest rates will remain low for the foreseeable future.