Daily Archives: October 18, 2008

Brightwater or Britwater?

When UK folk are completing their list of tick boxes, and considering items like lifestyle, proximity to outdoor pursuits, schooling, location, etc…it seems that our region gets the most boxes ticked. Practically every agent in our office is working with English buyers renting locally who have their money in a English Pound account here in NZ.

British Icon

Many are waiting for the clock to strike that “magical” 3 NZ dollars to the pound mark.

Interestingly enough, at our recent conference we learnt that over 25% of local buyers end up buying a listing from a different Summit office than that which they made their initial contact through.

I believe this is very indicative of many European buyers who locate ( while renting ) themselves centrally in Nelson / Stoke / Richmond and then buy elsewhere. Elsewhere usually ends up being a larger property a bit further out, but still within what is considered a short commute distance to town.

Brightwater in the Tasman district, under 10 minutes drive from Richmond is a very popular location for English buyers in general. In fact so much so that our local Newspaper the Nelson Mail, has mentioned the name “Britwater”.

“Four of Tasman’s newest citizens, Richard and Rowena Lukomski and their two sons Andy, 16, and Daniel, 14, who attended a citizenship ceremony earlier this month, say the reason why so many English immigrants are settling in the region is obvious – it’s one of the nicest places on the planet.” Read the whole article here >>> (courtesy The Leader Richmond Waimea)

and this older old >>> attests to a similar sentiment  (courtesy The Nelson Mail)

England 1 – NZ 3

The question on everyone’s lips is ….will the exchange rate reach 1 pound = 3 NZD.

3 to 1?

As you can see from the chart its looking like it might again do just that. With our region having the highest number of recent English Immigrants in New Zealand, its something that is quite a dynamic in our local market.