September 6th, 2010
This afternoon, the Housing Dept have released their official figures. Even I will be the first to admit it, this is a major departure from their usual release date schedule.
In fact, its about 2 weeks earlier than they have previously done so….so a great effort and a big pat on the back to the dept.
Importantly, information on rental rates in a locality can serve a couple of main purposes;
1] assist home buyers moving into the region with their temporary or permanent accommodation budgets
2] enable out of town investors to plan/budget/forecast potential returns for an investment property in Nelson
3] provide a source of temporary accommodation for property buyers or sellers “in transit” so to speak.
Here is the latest Market Rent update for the Nelson City region courtesy of the Dept of Building & Housing for the period 01-March-2010 to 31-August-2010
This information is compiled from bonds lodged.
All chart source data comes from New Zealands Department of Building and Housing.
Heres the relevant one for the Port Hills /Tahunanui area.
And the last one here is the Stoke / Nayland zone/area
I’ll repeat what I said last month………its 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 “normal residential family” homes, when compared to flats/apartments.
This most recently compiled data is illustrating exactly what people “on the ground” locally are paying weekly to rent a property in Nelson.
Already today, I have heard murmurs from our office in Stoke, of Canterbury folk making inquiries about rental properties…..be interesting to see where this one develops.
DATA SOURCE – NZ Department of Building and Housing