Monthly Archives: May 2010

Nelson and Tasman suffer Inventory drops

May 31, 2010

Over the last 3 months Nelson has seen its inventory of residential properties listed for sale drop off by nearly 15%. Over the corresponding time, our neighbouring district Tasman has seen an even greater fall off, they are 20% below the peak number of the last 3 months.

There are two camps when it comes to selling your property.

One says wait until the traditional spring rush, because there will be a flood of buyers. The downside here is that there will also be a plethora of comparable homes to yours, and that can also make buyers less competitive.
The other camps suggest like most things in life, look to take advantage of the ole’ supply and demand situation.
Consider then, the advantages of when the supply side dwindles down. In real estate speak that’s when you have less comparable properties on the market for buyers to inspect and make offers on. When there are buyers out there, and they don’t have as many homes that are equivalent to yours to compare price wise, then it works more to the sellers advantage.

Nelson / Tasman Regions Inventory Levels last 3 months

Nelson / Tasman Regions Inventory Levels last 3 months

The chart above shows what has been happening in the Nelson / Tasman region since late February 2010.

In my March Nelson Real Estate Property update I made you aware that it was taking 26 days on average to sell a two bedroom home in Stoke, my home patch.Then last months April Property Report for Nelson showed it was taking a median 24 days to sell. This was against the backdrop of investors awaiting “anxiously” the result to them (in the back pocket as it were) of this years Budget. Other property stats and previous Nelson Monthly Sales Reports are here.

It will be very interesting to see where Nelson Houses For Sale Inventory levels stack up (when compared to other regionals) tomorrow ,when realestate.co.nz release May 2010’s figures on 1st June in their NZ wide property report summary of May 2010.

Revised and Updated Chart to 3rd June 2010

Revised and Updated Chart to 3rd June 2010

UPDATE: think either I saw a wrong figure or transposed something incorrectly because this morning (2nd June) Tasman district are showing 388 listings, not the approx 350 something I saw yesterday. However Nelson is still dropping, down to 340 listings this am.

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Confirming NZ is still a happy place

May 31, 2010

Each year Mercer conduct a study to find the top 50 best cities on the planet for their Quality of Living survey.

Just like recent years, it seems New Zealand, and Australasia in general, are punching above their weight when it comes to representation on the list.

Mercers 2010 Top 5 Ciies Worldwide

For this years survey, like last years, New Zealand again featured in both Top 5 lists.

They compile two separate lists, one is the Top 50 based on Quality of Living and the other, Top 50 based on Eco-city Ranking.

Mercers 2010 Quality of Living survey highlights - Global

Mercer's 2010 Quality of Living survey highlights - Global

In slightly related news, Sydney Australia has zoomed past London, not just for a garage at Bondi Beach, but as a median cost of a house, its now more expensive than London!

According to the report in yesterdays Sunday Tele;

Residex figures show the median cost of a Sydney house is $651,500 – almost $190,000 ahead of London, where the median price for a two- to three-bedroom house is $462,000.

When trying to fathom why, the newspaper quotes John Lindeman, head of research for Residex as saying;

It’s quite incredible that houses are cheaper in those cities than in Sydney. But it’s caused by the demand for Sydney houses, which keeps outpacing the supply – and that’s not going to change any time soon.

Where to from here?

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General Uptick in Building Consents except Nelson

May 29th, 2010

Statistics NZ commented yesterday that although we are below the peak of 2007;

The number of new housing units authorised (excluding apartments) rose 15.5 percent in April 2010 when adjusted for seasonal effects, to reach its highest number since April 2008.

Overall when driving around Nelson and Stoke its evident that there is certainly some building work going on.

April 2010 Housing Consents - Statistics NZ

April 2010 Housing Consents - Statistics NZ

The above NZ wide chart from Statistics NZ shows an uptick.

Nelson is......

Nelson is......

Nelson on the other hand, hmmmm……..look at the chart?

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Nelson please lift your sleeve up because…

I need to check your temperature. Couple of charts to show the temperature in Nelson.

Heaps more where this came from

Heaps more where this came from

Back to the main topic in the headline here…….the above chart explains, by way of housing prices how popular we are, whilst the below chart shows our temperature, according to data from ASB.

Click on graphic for the full size image

Click on graphic for the full size image

And if its climate temperature you’re after NIWA has just said that we can expect milder temperatures for what started yesterday…….well yesterday was the first day of 2010 that snow has fallen on the western ranges.

She left us 5 days before she was meant too

May 28th, 2010

That was the good news that the owners of the Interislander ferry “Arahura” were greeted with in the last few days.

You’ll recall she arrived in Nelson back at the beginning of the month to much fanfare from local “tender winning” engineering and other associated ship maintenance companies/contractors.

It was after all, the first time that this vessel had graced our shores. If you check out Vessel-Tracker or in the case of the situational awareness program of my choice, …….marinetraffic.com, you’ll notice that her flag is no longer domiciled in Port Nelson….its more than likely its somewhere between Wellington and Picton.

According to the Nelson Mail, not only was all the work – involving reconditioning of one of the ships main engines, an overhaul of the main stern roll-on/roll-off door, plus ballast tank upgrades, along with some re-plating work involving the ships rail decks, completed on time…….the best news was saved til last.

Heading Back to where she belongs

Heading Back to where she belongs

She was sent on her way 5 days ahead of schedule.

Just goes to show though although some might think we are a relaxed holiday town, when the pedal comes down to the metal……..we can match it with the best in NZ. I’d be surprised if this is this isn’t the first major contract we pull away from the so called major cities.

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