February 14th, 2012
This afternoon, New Zealands Real Estate Institute, REINZ, officially reported the sales figures covering the month of January 2012.
The most outstanding thing about the press release was the fact that Nelson wasn’t mentioned.
That means the trend I’ve been trying to highlight over recent months, but one that goes back years….is continuing.
That trend…..stable prices.
So while other parts of NZ can hoard the media headlines or mentions because they are top or bottom of the pack, the fact that Nelson is notable by its exception of not being named, is a fantastic thing!
Included within that stability were the following specific, yet pertinent points regarding Nelson (as reported by REINZ in this press release);
The median price across the region eased by 2% in January compared to December, but rose by 2% compared to January last year.
Nelson City fared best across the region with a 1% lift in the median price in December and a smaller fall compared to January last year.
They also indicated that according to their database “Sales volumes fell, as expected for this time of year, but at only 2/3 the rate of the national result.” (semi stable – but still ok I’d say)
Hmmm…looks like my stability theory is being contested with the next item they report though…..
As with the median price, Nelson City appeared to do the best of all markets with an almost 35% increase in volumes compared to January last year and a 10% fall compared to December.
However bit of a return to normal type conditions here…..
The number of days to sell for the region eased by 20 days in January compared to December, from 37 to 57 days.
So in a round about way, I’d still say stable…but that was January.
February will be different….no doubt about that.
Anyone on the ground in Nelson, especially any active buyers already know that. So it will be with much anticipation I await the Feb 2012 results.
UPDATED – 5:42pm
QV NZ have just reported too…check it out here…. Nelson region / Top of the South.