Tasman Property Market

Is it worth buying a property in Tasman? Explore the data and find out. Last updated 11th January 2021

Introduction

Looking to Invest or buy a property in Tasman?

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

The Tasman property market is made up of 1 district, also named Tasman, and 16 suburbs.

Median Tasman House Price

Tasman's Median House Price is $774,400

As at November 2020, the median house price in Tasman is $774,400. This is up from $156,000 10 years earlier. That means that the median Tasman property increased in value by 7.81% each year, or $40,940 on average.

The most expensive suburb in Tasman is Ruby Bay, which has a median house price of $1,015,250. That means that Ruby Bay's median house price is 1.31x the region's median.

The least expensive suburb in Tasman is Takaka, which has a median house price of $493,950. That means that Takaka's median house price is 36.22% cheaper than Tasman's median.

Tasman House Prices Comparison with NZ

Tasman's Median House Price is 0.51% above its long term average

On average, over the last 28 years, Tasman's median house price has been 99.38% of New Zealand’s median house price.

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

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

As of September 2020, Tasman's median house price was 99.89% of New Zealand’s median house price. That is 0.51% above its long term ratio, which suggests that Tasman's house prices are where we would expect them to be over the long term relative to the rest of the country.

Tasman District Property Market

Tasman District Property Market

Over the last 24 months of all Tasman suburbs (Dec 2018 – Dec 2020), Takaka had the fastest-growing house prices, at 9.47% per year. That is 16.30% slower than the median Tasman house price.

The suburb that grew the slowest over that period was Redwood Valley, which grew at a rate of 4.32% per year. That’s 61.83% slower than the median Tasman 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.