Feb 14th, 2013
The Real Estate Institute of NZ, REINZ, released their NZ wide sold (residential selling prices that is) figures a few days ago.
And the chart shows itself thus…. (like usual click on chart for higher res version)
Interesting factoid of the month was the extra activity in the 4 bedroom market, surprising….well in a Nelson way that is, that out of the 8 properties sold, only 2 had their prices published. The other 6 had either PBN, by negotiation or otherwise. Interestingly Tony Alexanders survey of NZ agents will be out in the next few days…..and it will make interesting reading from a Nelson perspective. Anecdotal evidence would seem to hint that even experienced Nelson agents are struggling a bit when it comes to pricing larger family homes ( as in 4 /5 / 6 bedrooms plus) , and are really “leaving it to the market to decide the selling price.”
The report also mentions;
4,933 houses sold in January 2013, an increase of 21% on January 2012 …… and that the National median house price is up 4.2% compared to January 2012, but eases 4.9% from December 2012
…. so in a word balanced I’d say, especially considering to all intents and purposes, it was a holiday month in NZ, and in Nelson a very sunny one at that. When talking about New Zealand wide housing prices for the month, the Institute reported;
The national median house price is up 4.2% compared to January 2012, while the Auckland median price is up 8.1% compared to January 2012. The Canterbury/ Westland median rose 5.8% and Nelson/Marlborough 4.6%.
…. and just to make sure we got back in the top 3 a second time….they brought this figure up…
For the month of January, Canterbury/Westland recorded the shortest days to sell at 31 days, followed by Auckland with 33 days and Nelson/Marlborough with 40 days.
So is it time to arrive in Nelson and get that property at a 5 – 10 % discount to market?
Factor this one from REINZ in first ….
Over the past 10 years the median days to sell for the month of January has averaged 44 days across New Zealand.
Nelson was 40 days in Jan 2013…..I’ll let you do the maths …. plus I’ll let you ponder the thought “… perhaps there is a reason why that’s the case?”
Anecdotal wise…..well if last night was any pointer…..hmmm…..
Two agents just from our office in Stoke
had individual talked about offers on separately just listed properties, but in correct fashion, the listing agents have insisted, obviously after consultation with their vendors, to have all offers presented next Monday night (ie; after the heavily advertised first Open Home) - would be interesting to see how those first any offers stack up, that’s for sure? (And just to answer the commentators who email me about “mentioning the specifics” … I will here for the first time let you know which properties I am referring to – this one here http://www.summit.co.nz/RR32042 and this other one right here http://www.summit.co.nz/SR32045 )
With a team of over 30 hungry agents just in Nelson – Stoke – Richmond …. you tell me that wasn’t the right decision for the individual property owners interests?
DATA – www.qv.co.nz
Hmmm… seems I’m not the only one?
Quotable Value (“QVNZ”) shows the Nelson real estate market’s SOLD properties on just a gentle “uphill tick” ….. with the passing lane being occupied by the fast ones from Auckland and Christchurch …. actually – just exactly how we like it … nothing too radical there.
Although they’re reporting that….
With the increase in nationwide values no longer solely being driven by Auckland and Canterbury, the increase in values for most parts of the country signals an increase in confidence as well.
…..won’t win any short term fans in the interest rate department.
NZs largest auction site, Trademe, quips in around about here too….
Chart – www.trademe.co.nz
…and shows a bit more nationwide info from their data partner - Quotable Value New Zealand. Keen property observers will notice the “Average Value” propositions for NZ and where Nelson sits in that matrix. Interesting stuff. If you want a hand to interpret it – hey – you know what to do – pick up the phone.
Nelson is fortunate in that our sales figures aren’t really singled out in the overall picture side of things, but this month the following reference …..
REINZ Stratified Median Housing Price Index
The REINZ Housing Price Index eased 1.0% in January compared with December to sit at 3,488.1. Wellington rose 1.1% in January, while Auckland fell 2.1% and Christchurch 4.4%. For the 12 months to January, the Auckland Index rose 11.8% and the Christchurch Index rose 9.9% compared to the National Index increase of 7.2%. Outside of the main centres, the Other South Island Index was the next strongest with an increase of 3.9% for the 12 months to January 2013.
….does sure hint that even in the Mainland….that last sentence above…..hints that a change could be in the air.
February 14 2013 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »
Jan 2nd, 2013
If you happened to live in Nelson’s seaside suburb of Monaco, then this sort of…
….activity is right on your back doorstep.
As a consequence the pricing of properties in this “enclave” is right up there, in terms of Nelson property values.
Just sometimes though…..the thoroughly typical Nelson sunshine can be replaced by other things, like…
Plenty more photos over at Nelsonians Life….just type “MONACO” (less the quote symbols) in the search box
Further info – MONACO, STOKE, NELSON
January 02 2013 | Buyers and General and Nelson and photography | No Comments »
December 4th, 2012
Check out this chart that I have “borrowed” from the NZ Property Investors Association national magazine…
IMAGE – Courtesy NZ Property Investors Magazine
…and then tell me what you think? (Like all my pics, click on it it for higher res image – its easier to read for “boomers” like me.)
The stats come from Statistics NZ, but thanks to the NZ Property Investors Mag I don’t have to go there and compile them tonight.
Like usual though….if you wanna know more, or more importantly, want to know how to interept these stats in the context of our Dec 2012 Nelson real estate market.. …you know who to call.
December 04 2012 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »
Oct 9th 2012
Yesterday, REINZ released the official sales figures for the month of September 2012.
The above chart does suggest some balance coming back to the pricing steps between 2 / 3 / 4 / 5 bedrooms.
This month REINZ, that’s the Real Estate Institute of NZ, report that;
Sales up 8 per cent year on year
National median house price just below record median
National days to sell has fallen by 13 days since February (46 days to 33 days)
New record median house price for Auckland and Nelson/Marlborough regions
Bearing the brunt of this is mainly because of the lack of a high volume of new listings, leading the REINZ CEO to say;
“The traditional rush of spring listings has not eventuated this year and the market is tightening as buyers face a limited choice of offerings,”
Nelson did get a mention too….
For the month of September, Nelson/Marlborough recorded the highest lift in prices for the month with an increase of 7.0%,
and……below you can see how reasonably stable the prices of homes have been locally over recent years in the Nelson City zone.
October 09 2012 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data | No Comments »
August 13, 2012
Gently does it …..was probably the best way to explain any changes in Nelson city over the sales period of July 2012.
As noted in the REINZ monthly report covering said period, Nelson/Marlborough ended up with a tally of $301,000 Vs $311,000 for the same period (July 2011) last year.
Contrasting that median figure, Nelson City shifted in that “gently does it fashion” to be off just $400 on its June 2012 result, moving its median down from $350,500 to $350,100 …. a pointer to trend watchers.
Quite surprisingly though, for spreadsheet watchers, the city moved from a median of $319,000 in July 2011 to one of $350,100 last month.
Factoring into this was 10% fewer houses selling over those 4 weeks though. (60 vs 66 last yr)
The figures show that, in a sort of anecdotal way, there sure has been, on the horizon at least, a recognition of what the term “urgency” means in relation to a real estate sales transaction….something we haven’t seen, at least in more than a minor way, for at least 5 years now.
In summing up the REINZ local representative reported
Sales volume compared to July 2011 was almost 7% higher with notable increases in Richmond and Marlborough/Kaikoura. However, compared to June sales volume eased by over 5% with sales down over a quarter in Nelson City and down 17% in Richmond, although sales were higher in Motueka and Marlborough/Kaikoura.
The number of days to sell improved by a noticeable 17 days compared to June, from 55 days to 38 days, giving Nelson/Marlborough the second shortest number of days to sell in July.
All in all, a steady month, but caution could be in the wind………..
The number of days to sell improved by a noticeable 17 days compared to June, from 55 days to 38 days, giving Nelson/Marlborough the second shortest number of days to sell in July. Compared to July 2011 the number of days to sell also improved by nine days, from 47 days to 38 days.
It shows, perhaps some light at the end of the tunnel…..
There could be a change afoot if this trend continues.
The NZ Property Report over at realestate.co.nz has this …..and many other associated extras this month, making compulsory reading for any potential “Top of the South” future buyers.
If you’re going to spend a 6 figure sum to buy a property locally, these factors are important.…. and the July 2012 details on Nelson make good reading, especially statistics wise.
Overall thought, on the whole……. a steady, and for want of a better term…..a building (consolidating) month.
DATA ~ www.reinz.co.nz
August 2012 | Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »
August 13 2012 | Buyers and General and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market | No Comments »