June 17, 2010
On a day when our National Carrier is having …
…a Gala Price day on trips to Nelson, I thought it might be opportune to update you with some more home prices.
Now keep in mind these are average, not median prices. The timeframe selected as a baseline for the above prices was the month of May of each year.
They cover average listing, actual sale price and the government valuation of homes in the Nelson City area.
What the smaller chart above amply illustrates is what I’ve talked on here many times before about. That is that in Nelson we were one of, if not the first area in New Zealand to see any visible signs and “happenings on the street” re New Zealand home prices about to commence a ramp up.
It started, ever so slightly in 2002, took off in 2003 and still hadn’t run out of steam into 2004.
In comparison the years before that (bottom of chart where I haven’t attached data labels) seem tame. But that was the Nelson market through the mid 1990’s all the way up til 2002. Many sold after owning the home for 5-10 years for a 5 or 10% improvement in selling price, had they of waited just a view more years ……(isn’t hindsight a wonderful thing?)