- The median price across the region rose $95,000 (+25%) compared to January 2016 to reach a new record high. Prices rose 31% in Richmond, 24% in Nelson and 17% in Marlborough/Kaikoura. Compared to December the median price rose $14,250 (+3%) with prices rising 17% in Richmond, 5% in Marlborough/Kaikoura and 1% in Nelson. On a seasonally adjusted basis the median price rose 5% compared to December indicating that the median price normally falls in January.
- Sales volume compared to December fell 22%, with sales falling 13% in Motueka, 17% in Nelson and 19% in Marlborough/Kaikoura. Compared to January 2016 sales volumes fell 23%, with sales falling 16% in Marlborough/Kaikoura, 18% in Nelson and 38% in Richmond. On a seasonally adjusted basis sales in December fell 6% compared to December
- REINZ Chief Executive Officer, Bindi Norwell noted that, “First home buyers are now finding more competition from other buyers making overall competition for properties more intense in some price brackets. Investor .from outside the region remains strong as well. There has been an uplift in listings during January which has helped ease the situation a little. Source: REINZ
Number of Sales – 9
Median Sale Price – $482,000
Days on the Market – 43