Nelson house prices

PHOTO: VIRGINIA WOOLF House prices continue to increase in Nelson as sales fall, following a national trend of “critically low” listings. File photo.

Nelson house prices continue to increase, following a national trend of “critically low” numbers of homes for sale.

Sales decreased in Nelson by 24.3 per cent compared to this time last year with 75 houses sold, the lowest sales count in five months. 

However, figures from the Real Estate Institute of New Zealand (REINZ) show a different story in Tasman which had a 17.5 per cent increase in annual sales with 74 houses sold last month and a 13.7 per cent increase in the median house price, rising to a new record of $665,000, up from $585,000 at the same time last year. 

In Nelson, the median house price for February was $575,000, down from $597,500 in January but up on the $563,000 in February last year.