Daily Archives: September 29, 2009

Home Patch Update – Stoke, Nelson

My home patch is Stoke, the major suburb of Nelson situated halfway between Nelson and Richmond, where I grew up in since 1973.

PHOTO – Stoke Panorama (if you’ve got the bandwidth & time a 4351 x 919 version is here)

In over 365 posts here I don’t think I’ve ever really drawn a focus to it, so now is good.

That is, except for recently on a few occasions pointing out that a few months back Stoke did make a name for itself in being the suburb in NZ that was best at surviving the recent downturn in the strongest possible way.

Geographically, Stoke is midway (6.5km to Richmond – 7.5km to Nelson) between Richmond and Nelson, and is made up of……I guess you’d call them micro or satellite suburbs.

In our case that means the following suburbs make up Stoke;

Maitlands

Monaco

Nayland

Stoke Central

Ngawhatu

Saxton

…..and bordering on the outskirts there are some areas of these suburbs that are referred to as either….

Enner Glynn

Annesbrook

Wakatu

Tahunanui

You can find out more directly on each by clicking on the name in my left hand column here under suburbs.

The mix of housing is typical 3 bedroom, but with a higher percentage of 2 bedroom properties than one would commonly expect in a normal suburb.

That’s more than likely due to the fact that our general area is very much a destination for retired folk. As a case in point here, Ryman Healthcare opened the new Ernest Rutherford retirement village at the beginning of last year, and have since sold near on 120 x 2 bedroom standalone villas. This is in addition to the numbers that have brought 1 & 2 bedroom apartments in the main building complex.

Although another company at the same time opened their development, Gracefields, in the last few weeks have sold their sales office and a nearby adjoining property, so I wouldn’t count that as a positive vote. Then again their prices were stratospheric for the area…..from memory $500k+ for 3 bedroom premium property in a retirement village type setting.

Compare that to approx $300-315k for a 2 bedroom standalone & serviced villa @ Rymans, and you can make your own mind up.

For those statistically inclined over the period July 09 to Sept 09 (data so far sent to REINZ for Sept 09 that is) the median price is bang on $350,000, the median Days to Sell are 38, and the amount achieved has been consistent at 98.1% of the published asking price.

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