The Nelson Marlborough property market is steady, with plenty of interest and no sign of deflating, new figures show.
Sales values in the Nelson Marlborough region as a whole were down, with a median price of $342,000, down 6.7 per cent from August and 3.1 per cent from last September, according to figures from the Real Estate Institute.
But volumes were up, with 248 houses sold, a 10.8 per cent increase from August, and a 12.3 per cent increase from last September.
The average number of days to sell improved by six days compared with August, and three days with last September, down to 35 days.
Nelson city's median house price was down by 9 per cent compared with August, to $357,000 from $392,500, but up 5.1 per cent from the same month last year, when it was $339,750.
Volume remained about the same as previous months, with 85 houses sold compared with 85 in July and 83 on the same month last year.
In Richmond, the median price was $395,000. This was down 2.6 per cent from August when it was $405,500, and down 6.5 per cent from last September, when it was $422,500.
Volumes were steady, with 29 houses sold, compared with 24 in July and 28 last year.
In Motueka, the median price was up by 10.6 per cent from the previous month, to $335,000 from $303,000 in August, and down on September last year when it was $385,250, a drop of 13 per cent.
Volumes were steady, at 17, from 14 in August and 20 in September last year.
Institute chief executive Helen O'Sullivan said volumes had been strong in the lead up to the introduction of new lending restrictions by the Reserve Bank, with sales up more than 19 per cent compared to September last year.
There was a strong growth in sales coming through in several regional centres.
"Northland is experiencing a very strong uplift in its sales volume trend, with Taranaki and Nelson/Marlborough also showing positive trends in sales volume and price, although these three regions remain some way behind Auckland and Canterbury/Westland in terms of pure price movements."
Institute Nelson Marlborough spokesman Darryl Marshall said the region was in line with national trends, with a lot of activity around the $400,000-$450,000 range.
Open homes and auctions were still well attended, and multi-offer situations were becoming increasingly common.
"Those first home buyers, there's an awareness when they miss out that the entry-level is just continuing to tick up. There's no sense of anything deflating."
So far October had been more active than September, in line with the traditional spring lift.
- © Fairfax NZ News