Property Management

Has the bubble burst?

Nelson's property boom has suffered a sudden slowdown as the region's market starts to cool.

Friday, February 20th 2004

Real Estate Institute of New Zealand Nelson Marlborough president Darryl Marshall this morning said the next few months would tell where the property market was headed.

Just released institute statistics reveal the median selling price of a home in the Nelson-Marlborough region dropped by more than $20,000 to $265,750 - the single biggest decline across all regions last month.

The Nelson area median price dropped from $322,625 to $310,875 - better than the $203,531 posted last January but not enough to buoy residential sales.

Nelson city and Richmond sales dropped 21 percent, Motueka by 27 percent, 23 percent in Golden Bay, and a whopping 33 percent in Nelson country.

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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