In the Tasman region, listed prices for lifestyle properties have risen by 20% over the past 12 months.
Listings at low interest rates don’t need long in the market to attract motivated buyers, encouraged by lower debt service charges. Properties from $700,000 to $1.2 million and under 20 hectares are particularly sought after, reflecting the strength of the local residential market and generally complying with banking rules for residential loans. Listings are expected to decline over the winter, although buyer demand is not expected to falter, suggesting that anyone offering a lifestyle property in Nelson or Marlborough will get a satisfactory result.
Wine growing continues to dominate Marlborough’s rural property market. In volume, reported on market sales in 2020/21, transactions were almost 50% higher than the previous year. Values from the most sought-after established vineyards around Rapaura average over $300,000 per hectare of canopy, with strong sales also in the Awatere and Wairau valleys. A shortage of vines for new plantings and an increase in the number of old vines requiring replanting will keep the established vineyard market buoyant in the years to come.
For sheep and cattle properties, established farm families already in the industry dominate the market, making it difficult for newcomers to compete for ownership. Some land use changes are underway, particularly with purchases for carbon farming and the continued spread of horticulture.
After several years of relative inactivity, sales of dairy properties in the Tasman District have picked up on the back of excellent yields and growing confidence among farmers.
Nelson/Marlborough Sales Manager
M 027 434 4069
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