Daily Archives: July 1, 2010

June 2010 NZ Property Report – Nelson Perspectives

July 1st, 2010

One of the interesting things about the Real Estate market is how people believe what they read, hear or see in the media, but just so long as it suits them to. Forget what the foot troops on the ground are telling them and just let the cynic in them take favour.

The contrarian view isn’t given any space.

And you see…..that’s a problem, when buying “houses for sale” in Nelson, and the Nelson Bays area in general.

As you know by now, many times when there is a spark of recovery, alongside a couple of the usual suspects, our region leads the way in relation to the housing market.

Lately some of my colleagues have been wondering why so many out of town buyers have not only descended upon us, but why oh why, are they trying to low ball their offers on local property! I suspect, and the map here shows the case, that markets they are emigrating from have a totally different dynamic to the Nelson local market.

Just because their local paper has been sprouting doom and gloom, and that local paper may have picked up on some negative NZ overall figures, does not a full picture make.

However there is a silver lining, and local buyers don’t mind the fact that they are enjoying the current reasonably stable market.

They can move sideways and up market a bit in these times of “relatively stable” prices.

In fact because out-of-town buyers are offering such low prices it gives them, the locals that is, an added edge in making their reasonable offers….. look great by comparison!

...feeling a bit like 2002-2003 all over again.....

I’ll let this take-out map graphic from realestate.co.nz’s latest report on the NZ Property Market for June 2010 tell you in a “picture says 1000 words” way about looking for homes for sale in Nelson.

In conclusion I’ll leave with you with a quote from the report;

“…..with the Nelson region clearly bucking the trend with a bias to a seller’s market with inventory below the LTA, sales activity strong and asking price expectation steady.”

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