June 12th, 2013
The Real Estate Institute of NZ (REINZ) has just released this morning consolidated sales figures for properties sold NZ wide in May 2013.
Nelson City saw its median price creep up to $362,000. (REINZ – $362,250)
It was another busy month too, with 96 dwellings changes hands.
Sections sales were a steady 8 units.
The Auckland market still seems to be powering ahead of the rest of the country as the chart from QV NZ depicts. QV NZ report that Nelson City is up 3.9% in prices over the last 12 months, but only 2.9% overall since the 2007 market peak.
Locally the inventory levels in Nelson City seem to be definitely mirroring what is happen across other parts of the country….
SOURCE: www.realestate.co.nz (NZ Property Report May 2013)
…..and that is, as in Nelsons case above at 23 weeks, reducing. Be aware the above factoid takes into account the Tasman region too, so really is being a bit unfair on Nelson City in that aspect. And the Institutes CEO puts it like this
REINZ Chief Executive, Helen O’Sullivan noted that “both investors and first home buyers are active in the market, and vendors remain well informed about the market. However, the region is seeing an increasing shortage of listings for properties in the $250,000 – $400,000 bracket, the most active part of the market.”
Exactly how it feels out there on the street.
June 12 2013 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »
May 13th, 2013
The Real Estate Institute of NZ (REINZ) has just released consolidated sales figures for properties sold NZ wide in April 2013.
Although the Nelson/Marlborough region saw a drop in median price to $339, 000 from last months $350,000, part of that could have been attributed to the large amount of new listings coming to market, offering buyers much more choice than usual.
As I mentioned, anecdotally wise, in last months review…
“local conveyancers report (ed) this week that March was busy, and 2 mentioned it still seemed to be the same for the start of April.”
So it was with Nelson recording 105 property sales in April, matching March 2013s number exactly.
In the Institutes regional commentary;
Sales volume compared to April 2012 was 34% higher with an almost doubling of sales in Nelson City and strong increases in Richmond and Motueka. Compared to March sales volumes fell by 14% with sales flat in Nelson City, but falling elsewhere across the region.
The number of days to sell improved by five days compared to March, from 40 days in March to 35 days in April. Compared to April 2012 the number of days to sell improved by eight days. Over the past 10 years the median number of days to sell in April across the region has been 40 days.
In comparision to the above informations, DOM (Days on Market) for Nelson City dropped 2 days as an average from 32 to 30 days.
However the standout takeout from this months charts is that Nelson sold twice as much (105 Vs 55) properties in April 2013 as it did in April 2012.
By itself its an interesting figure, and not too much to worry about….more worrying for home buyers is the headline of Tony Alexanders latest 13th May 2013 BNZ-REINZ Residential Market Survey…
Lots of buyers, fewer vendors.
Many in Real Estate have seen this before.
And that friends, that was the month that was, April 2013.
May 13 2013 | Buyers and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »
comes this photo from my Nelsonians Life blog…
that, …. well frankly, … just deserves a second viewing….
….check it out and the details right there
May 09 2013 | General and Humour and Nelson and New Zealand and retirement | No Comments »
April 11th, 2013
This afternoon March 2013 Sales figures have come out. According to the Real Estate Institute of NZs local representative, as far as the Nelson market was concerned;
The median price across the region rose by $13,500 (+4.1%) compared to March 2012, with prices in Richmond and Motueka rising the fastest. Compared to February the median price increased by $9,500 (+2.8%) with prices falling in Motueka but stable in Richmond.
Sales volume compared to February was 22% higher with notable increases in Richmond and Motueka. Compared to March 2012 sales volumes increased by almost 10% with sales in Richmond up 76% and up 15.4% in Nelson City.
The number of days to sell remained steady at 40 days compared to February and eased by five days compared to March 2012. Over the past 10 years the median number of days to sell in February across the region has been 38 days.
REINZ Chief Executive, Helen O’Sullivan commented that “the Nelson market continues to suffer from a shortage of listings with buyer demand outstripping the supply of listings. Despite that first home buyers are active in the market along with some investors looking to buy while interest rates remain low.”
The median price trend continues to improve, although the volume and days to sell trends remain sideways. The overall trend for the region has now eased to sideways.
I’ll report fully in the next few days, its getting busy again.
April 11 2013 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data | No Comments »
March 14th, 2013
The Real Estate Institute of NZ (REINZ) has released the sales statistics covering Feb 2013.
Although the region saw a median of 334, 500 Nelson City was stated as 338, 750. (by my calcs 340,000)
Their monthly commentary was headed “Late Summer Surge for Real Estate Market In February” and this was reflected in a new record for the Stratified Housing Price Index, as it reached a new record high of 3,544.9 .
In discussing the “Days To Sell” statistic, the institute noted that all regions, with the exception of Northland, Nelson/Marlborough and Southland, saw an improvement in the number of days to sell between February 2012 and February 2013. Regarding local “Days to Sell” the institutes local representative commented;
The number of days to sell remained steady at 40 days compared to January and eased by three days compared to February 2012. Over the past 10 years the median number of days to sell in February across the region has been 43 days.
Though as you can see by the chart above there are some differences.
The REINZ Chief Executive, Helen O’Sullivan commented that “the Nelson market has become more challenging with vendors sticking to price expectations and buyers generally being prepared to wait. Buyers remain active in the market and a continuing shortage of listings further complicates the picture.”
The local spokesperson also mentioned “The median price trend continues to improve, although the volume and days to sell trends remain sideways. The overall trend for the region continues to improve, albeit modestly.”
March 14 2013 | Buyers and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »