The property market continues to reach new heights in Tasman, with the region breaking its record when it comes to house sales in August.
The Real Estate Institute of New Zealand (REINZ) released their monthly property report for August last week, which shows that Tasman had its highest sales count in August since records began.
House sales in the Tasman region jumped from 66 homes sold in August 2019, to 85 in the same period in 2020.
Meanwhile, 105 homes were sold in Nelson during August, a 40 per cent increase year on year, hitting the highest number of sales in August in the last 14 years.
REINZ CEO Bindi Norwell says that the number of properties being sold in the district is exceeding the number of new listings on the market.
“[This] is likely to be pushing up prices and contributing to the shortage of stock. Most properties have multi offers because of the strong buyer demand and lack of listings,” she says.
“The region is still attracting out of town purchasers who are buying for future planning to move here. The market will continue to be busy with the attractiveness of job and lifestyle options in the area.”
Tall Poppy sales consultant Wendy Pearson says that she and her team have yet to see the property slowdown that was predicted for post-Covid.
She also says that low-interest rates have provided first home buyers with more opportunities than was the case previously.
“The first home buyer level is very active, with first home buyers coming up with a much higher deposit so that they can purchase something over $500,000,” she says.
“What I’m also surprised about is that people with money in the bank, when their term deposits are coming up, are buying rental properties, “she says.
“And the rental properties that people are buying are new builds, so people are spending around $800,000 to buy rental properties, which is a new thing.”
Wendy also says that we are seeing more and more people from around the country moving into this region.
“I do think that the weeks that we had in lockdown have had people reassessing and thinking about where they want to be. We can’t get away from the fact that Nelson is a fantastic place to live.”
Wendy says she has also seen offers on houses presented in a wide range of price brackets.
“Multiple offers are happening across the price brackets which indicates that there simply aren’t enough houses to go around.”
“A lot of people are buying new, people are selling while the market is buoyant and going into campervans while they build.”