Nelson Tasman Settlement Support
A Partnership between Department of Labour and Nelson City Council
Buying a house or property
You can buy a house if you can pay the full price of the property or arrange a long-term loan or mortgage from a lender, such as a finance house or bank. They will consider your income, what you own, your debts and credit rating. Most will ask you to pay a deposit from your own money. It is best to go to a registered bank or mortgage broker to borrow money to purchase a property – they will give information on types of mortgages available to choose from.
Residential property market
Over the past five years the Nelson Tasman property market has been extremely buoyant, with demand fuelled by overseas immigrants, the strong local economy, and low unemployment. The median house price in June 2009 was $324,189 in Nelson, $346,813 in Tasman and $301,826 in Marlborough. The market remains positive with the attractions of the lifestyle continuing to make Nelson property a good investment.
Sections
Sections – also known in other countries as lots - are available from Atawhai through to the southern Richmond foothills. Sizes range from the average residential section of 600-800m2 through 3,000m2, and can be found on both flat or elevated locations. Land prices have also increased in recent years and the median section price in Nelson is approximately $160,000, Richmond $220,000 and Tasman $181,000. Source: REINZ, July 2009.
Apartments
There has been a boom in apartments on the Nelson waterfront, with several complexes completed on Wakefield Quay. Nelson city also has a number of apartment blocks, either completed or under construction, and there is a new retail and apartment complex in Tahunanui.
Lifestyle Blocks
Lifestyle blocks are larger pieces of land typically located in more rural areas just outside the main city. The lifestyle move to Nelson by people from outside the district accounts for a continued demand for small rural blocks. Prices are determined by location, views and amenities, with coastal land particularly sought after. The lower Waimea Plains, Richmond foothills, the coastal belt from the Waimea Plains to Mahana and the coastal fringe of Golden Bay are favoured locations but there is also demand for bush blocks, particularly where these adjoin a river or stream. The Mapua, Kina and Moutere Hills areas continue to be a high growth triangle for the region.
Home Ownership Education Programme
For people thinking about buying their first home, the government offers a course that gives advice. Visit www.NewHomeOwners.org.nz.
Where to find homes for sale
Properties are advertised through real estate agents, through open days at properties for sale, and advertised in the Nelson Mail on Fridays and Saturdays. Some real estate agencies offer free publications, available through their offices. All major real estate companies have websites.
Median sale price 2001 - 2009
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