Review of the property sales market in the Motueka area in February 2013

February 14th
By Alan Atkins, Ray White Motueka

[Editor's note: Ray White Motueka is the Principal Sponsor of Motueka Online, and one item of assistance it provides is a regular, general update on the state of property sales in the area. The reports do not contain any promotion of Alan's company, but are provided purely for informational purposes]

Nationally, robust demand drove sales volume growth in the residential property market during January to the highest level for the month in five years, with the number of sales up 21 per cent on January 2012.

The median price across the region rose by $15,000 (+4.6%) compared to January 2012, with prices in Marlborough/Kaikoura rising fastest, closely followed by Richmond.

Sales volume compared to January 2012 was 14% higher with notable increases in Marlborough/Kaikoura and Richmond.

REINZ Chief Executive, Helen O'Sullivan commented that "the Nelson market remains competitive with a limited supply of listings and a growing number of buyers. Buyers are still coming in from Christchurch reflecting the time taken to establish their financial direction."

For the Motueka area there were a surprising good number of new listings over the holiday period. Sales for the month showed a continuing strong growth in the sale of sections. The median days on market for the sale of homes were back to 71 with the median price remaining stable at $337,500.

There is a steady demand for most property types at present, but buyers remain focused on selecting properties that meet all their needs and represent value for their dollars.

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