Section Prices- stuck in the middle with you

Jan 7th, 2010

Section Prices – some say the middle of the road is boring.

Not me. Far from it.

After all Nelson is the geographical centre of NZ.

When it comes to buying a section in New Zealand, and you want to find out the average price paid across the whole country, then you need look no further than Nelson.

Nelson is pretty much middle of the road (click to enlarge)

It’s just another reason we are there to help, because locally, we represent the closest to the average price paid to buy a section / block of land in New Zealand.

Some would say its a case of ……“Steady as she goes…..”

When it comes to real estate pricing over these turbulent last 3 years or so, then I reckon that’s a good thing.

As the circled zone indicates - steady as she goes. (click to enlarge)

As the circled zone indicates - steady as she goes. (click to enlarge)

Stability assists greatly in budget setting, and basically getting on with your life……ready to climb towards your next goals. I have spoken before about the stability we experience here in Nelson, and I believe a large part of that comes down to our geographical boundaries.

The Nelson City zone probably has the smallest catchment area in the whole country. That offers a great perspective. That of most everyone living in Nelson using the whole of Nelson in their real estate search. From one end of the zone to the other is less than 40km, and about 10km’s at its widest.

I’m sure that things like the Nelson region employment ratio also have something to do with it…..not exactly dissimilar to a situation that I wrote about back in Aug 2009. Conversely I don’t think this has anything to do with it though. Although I do think this data from April 2009 does have.

Therefore the proximity of distance offers us an advantage in conducting statistical explorations.

Even though the volume of section sales dropped 69%, Nelson kept its stability reputation intact (click to enlarge)

One quite interesting takeout from the data regarding sections sold in 2007 vs sections sold in 2010 (using the Nov qtr as a base) was the volumes of sales. Not one zone retained the level of sections sales that were conducted back in Nov 2007, however it was still surprising to see the variety in the results.

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