Nelson Weekly Rental Rates May 2010 Update

12th May 2010

Information on rental rates in a locality can serve two main purposes;

1] assist home buyers moving into the region with their temporary accommodation budgets

2] enable out of town investors to plan/budget/forecast potential returns for an investment property in Nelson

Here is the latest Market Rent update courtesy of the Dept of Building & Housing for the period 1 November 2009 – 30 April 2010.

This information is compiled from bonds lodged.

The number featured within the red data range shown in the charts is informing you how many individual bonds were lodged for that category.

All chart source data comes from New Zealands Department of Building and Housing.

Rather than show the averages like the last few updates, I decided it was more representative of our local market to highlight the differences between Nelson Central, as in town, the hills as in Port and Tahunanui Hills, and Stoke. Thus is the reason for the separate charts here.

As is plain to see when comparing the three charts, town (Nelson Central) is made up of a more densely packed population, hence the larger number of small bedroom number flats and apartments. At the other end of the spectrum is Stoke, along with its wider choice of all age schooling options. This is evidenced in the preponderance of homes when compared to flats/apartments.

There you have it, up to 3oth April 2010 what weekly rentals cost in Nelson.

DATA SOURCE – NZ Department of Building and Housing