More Red in Feb 2009
Yes sales were down, and don’t I know it, I only completed 2 sales in February. Although I wrote up a third sale, we are still awaiting confirmation of acceptance of a LIM report, so that has meant that it will be carried across into March 2009 figures.
Volume was down quite a bit, by my calculations by over a third. With over 60% of the sales in the under $300,000 category its only natural that this will have a downward effect on the median once the REINZ report the final official tallied figures in about 10-14 days time. 18 x 2 bedroom units confirmed sold, with only 2 selling for prices above $300,000 is not going to do anything to assist in raising the median up into the generally accepted 3 bedroom level.
By my data it appears that only 1 section was sold, so that sort of co-relates with current building consent activity. Also the number of days to sell, the way I calculate it, is starting to creep up there.
Considering that some of these properties have been on the market with other agencies, expired, then picked up by the selling agency, the actual days to sell I feel is not accurately reflecting this overall total time on the market. Vendors (Sellers) need to be very mindful of current market conditions so that they are not chasing the market down.
March 02 2009 | Nelson and The Market | No Comments »
As a teenage I remember many CKD wooden crates around Stoke, Richmond & Nelson, in friends backyards, they made fantastic “huts” or garden sheds. And from memory. more than one of the rafts that used to enter into the old annual Matai River Raft races had the letters “CKD” in big black stencils inked on them. I might be wrong but I think some LandRovers were assembled there too, but I’m sure with 4500 ex workers someone can correct me.
In the meantime the remainder of the site has proved useful to resourceful Nelsonians, recently the Summit Rescue Helicopter utilized the adjacent grasslands to drop thousands of white ping pong balls (with a couple of yellow ones for prizes) at a charity raiser, and just this weekend gone, a Performance / Muscle car spectacular was taking place there on the same adjacent grassland. Alongside the many static displays, much interest was generated by the “burnout sessions” as seen in the photo left. (or this 
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