Property Market
How is the Marlborough property market going?
Everything you need to know about the Marlborough Property Market before you buy or invest in the Marlborough region. Data. Analysis. House Prices.
Property Market
6 min read
Author: Ed McKnight
Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.
Reviewed by: Laine Moger
Journalist and Property Educator, holds a Bachelor of Communication (Honours) from Massey University.
As at September 2024, the median house price in Nelson is $670,000. This is up from $355,000 10 years earlier. That means that the median Nelson property increased in value by 6.56% each year, or $31,500 on average.
The most expensive suburb in Nelson is Marybank, which has a median house price of $882,950. That means that Marybank's median house price is 132% of Nelsonâs median.
The least expensive suburb in Nelson is Toi Toi, which has a median house price of $539,350. That means that Toi Toi's median house price is 81% of Nelsonâs median.
Over the last 24 months (Sep 2022 - Sep 2024), Washington Valley had the fastest-growing house prices in all of Nelson, at -2% per year.
The suburb that grew the slowest over that period was Maitai, which grew at a rate of -5% per year.
Nelson house prices look relatively cheap compared to where we'd expect them to be.
In the above graph, when the purple line is below the baseline (black line), Nelson's house values are undervalued. This suggests there is a buying opportunity in the region.
When Nelsonâs house values are above the baseline, other regions have buying opportunities.
How is this calculated? Click on the accordions below to find out.
Gross yields vary widely depending on which suburb you chose to investigate.
So, which suburbs in the Nelson property market have the highest gross rental yields?
Navigate the map to find the suburbs where houses produce the most cash for their investors.
Over the next 25 years (2023 - 2048), Nelson city's population is expected to grow by 5.32%.
That means Nelson city's population is expected to grow from 54,500 to 57,400 people. An increase of 2,900.
The above graph shows how quickly house prices have increased or decreased over the previous 12 months. This is also known as âcapital growthâ.
So does this show how the property market is going right now?
Yes and no.
It shows how expensive properties are today compared to 12 months ago.
While this will give us a good sense of how property values have changed, itâs not the only thing to consider.
You might also look at how quickly property values are going up (or down) from month to month, the number of property sales and how quickly properties are selling.
The above graph shows the median rent within a given month.
The data comes from the Ministry of Business Innovation and Employment (MBIE) and is provided through their Tenancy Services website.
Their data is based on all the rental bonds lodged by private landlords within the month.
This graph shows the annual growth in median rents.
The data also comes from the Ministry of Business Innovation and Employment (MBIE).
This graph shows current property listings, with data sourced from realestate.co.nz.
It shows the number of listings that are currently available on the website per month.
You might be wondering: âHow do the number of listings impact house prices?â
If many listings are available, then people will think there is lots of supply. This means that people feel like they can take their time choosing a property.
This leads to less competition and softer house prices.
On the other hand, if there arenât many listings available, people will feel like there is a shortage of houses. This leads to FOMO (fear of missing out).
This makes people more competitive and more likely to bid up house prices.
The above graph shows the total number of properties sold over the prior 12 months. For example, if looking at the data for August 2023, the graph will show all the sales between September 2022 â August 2023.
The data comes from the REINZ Market Insights Report and The Real Estate Institute of New Zealand (REINZ) collects data directly from agents.
You might be wondering: âHow does the volume of sales impact house prices?â
They donât impact house prices on their own. But a high number of sales represents a hot property market.
Thatâs because there are a lot of people out there buying property.
Thatâs why when sales volumes are high, property prices typically increase at the same time.
When property sales are falling, typically, property prices are also soft.
Nelson City is made up of 20 suburbs. The most expensive suburb is Marybank, which has an average house value of $882,950. While the most affordable suburb is Toi Toi, which has an average house value of $539,350.
Over the last 24 months of all the Nelson City suburbs (Sep 2022 - Sep 2024), Washington Valley had the fastest-growing house prices at -2.44% per year.
The suburb that grew the slowest over that period was Maitai, which grew at a rate of -5.45% per year.
Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.
Ed, our Resident Economist, is equipped with a GradDipEcon, a GradCertStratMgmt, BMus, and over five years of experience as Opes Partners' economist. His expertise in economics has led him to contribute articles to reputable publications like NZ Property Investor, Informed Investor, OneRoof, Stuff, and Business Desk. You might have also seen him share his insights on television programs such as The Project and Breakfast.