Nelson Property Market

Introduction

Looking to Invest or buy a property in Nelson?

This article breaks down all the most essential facts about the Nelson property market.

The Nelson property market is made up of 1 district, Nelson City, and 20 suburbs.

Median Nelson House Price

Nelson's Median House Price is $580,000

As at May 2020, the median house price in Nelson is $580,000. This is up from $350,000 10 years earlier. That means that the median Nelson property increased in value by 5.18% each year, or $23,000 on average.

The most expensive suburb in Nelson City is Nelson, which has a median house price of $862,700. That means that Nelson's (the suburb's) median house price is 1.49x the region's median.

The least expensive suburb in Nelson is Toi Toi, which has a median house price of $452,300. That means that Toi Toi's median house price is 22.02% cheaper than Nelson's median.

Nelson House Prices Comparison with NZ

Nelson House Prices Comparison with NZ

On average, over the last 27 years, Nelson's median house price has been 94.82% of New Zealand’s median house price.

Assuming the long term fundamentals of either property market have not changed, Nelson's median house price should trackback to this long term average.

That suggests that when Nelson's median house price is below its long term average, there is a buying opportunity. When Nelson's median house price is above its long term average, there are buying opportunities in other regions.

As of Dec 2019, Nelson's median house price was 94.96% of New Zealand’s median house price. That is 0.15% above its long term ratio, which suggests that Nelson's house prices are where we would expect them to be over the long term relative to the rest of the country.

Nelson City Property Market

Nelson City Property Market

Over the last 20 years of all Nelson suburbs (Jan 2000 – Mar 2020), Toi Toi had the fastest-growing house prices, at 7.80% per year. That is 12.39% faster than the median Nelson City house price.

The suburb that grew the slowest over that period was Atawhai, which grew at a rate of 6.14% per year. That’s 11.49% slower than the median Nelson house price.

Other Property Markets

Other Property Markets to Look Into

If you found this article useful, then you might also like our analyses on the other property markets in New Zealand. You can read all about the Auckland property market, the Wellington property market and the Christchurch property market by clicking any of the links mentioned here.