News and Publications

Property News - 1 September 2020

Homes out of reach

Cayden Edwards has pre-approval to buy a home up to $500,000 – but he keeps getting outbid – sometimes by more than $100,000.

Edwards, a second-year apprentice, has been looking for more than three months with his partner, a teacher, for a house in the Nelson-Tasman region.

Despite the pre-approval the couple can’t secure a suitable house.

The Mudgways hope to get approval for a residential subdivision of about 40 to 47 lots on 3.67ha of Rural 1 land they own along Main Rd, Hope, about 17km south of Nelson. It’s not a new plan. The couple initially tried to get the nod as a Special Housing Area in 2019 but it were knocked back over timing. They have now applied under the Covid-19 Recovery (Fast-track Consenting) Act 2020.

Jason Mudgway said section prices in the development would range from $240,000 to $295,000. A series of covenants were proposed to help keep the cost affordable such as a maximum house size of 120 square metres without a garage, buyers having to live in the home and not onsell it for minimum of three years, houses unable to be rented out and ‘‘no group housing or specialist housing companies allowed to purchase or build in subdivision’’. Buyers would also be expected to start building within a year of getting a section to prevent land banking.

Mudgway said he believed buyers could have a new, dry, warm home for about $500,000 to $550,000 all up.

(Nelson Mail, Monday 24 August 2020)

Sellers rule in local market

‘‘Sellers are still surprised at the prices that we can get for their homes. So why put a ceiling on it?’’

It’s taken Philip Scott longer to pack up his family’s possessions at their Nelson South home than it has to complete the property’s sale in the region’s fast-moving real estate market.

In an increasingly common scenario in a climate of short selling times and low house supply, the Scotts have sold and then bought properties within a fortnight.

The family had not even held their first open home before they sold their home in less than a week and for their asking price.

House sales in Nelson City went up 42 per cent during July, from 85 to 121, while in Tasman District they increased 56 per cent, from 61 to 95.

(Nelson Mail, Wednesday 26 August 2020)

Work progresses at Kohatu Motorsport and Adventure Park

Work at the much-anticipated Kohatu Park is progressing, while membership to its incorporated society has been made free of charge.

The motorsport and adventure park development is located just east of Motueka Valley Highway with plans including a 3.5km car racing track, a rally circuit, drag racing strip and karting track.

The Olivers Rd junction upgrade was completed in December 2019 and work on widening and upgrading the access road into the park commenced in July.

The Kohatu Park board have also made associate membership totally free, so that as many people as possible can keep up with the progress.

(Nelson Weekly, Wednesday 26 August 2020)

NMIT announces building upgrades

A $1.2m building revamp is among ‘‘major refurbishments’’ announced by Nelson Marlborough Institute of Technology at its campuses in Nelson, Richmond and Blenheim.

NMIT said the upgrade of its Applied Business building, known as K Block, at its Nelson campus, would provide more open plan options and technology upgrades.

Carpentry courses and Trades Academy and Foundation Studies (TAFS) would be transferred from Nelson to NMIT’s Richmond campus on Lower Queen Street, freeing up facilities for additional Nelson campus growth.

Outgoing NMIT chief executive Liam Sloan said the move would help enhance relationships with the construction industry in Richmond, where there was ‘‘significant growth in residential and commercial development’’.

(Nelson Mail, Friday 28 August 2020)

Housing stuck in slow gear

Housing is one of the Nelson council’s top priorities but the wheels of local government grind slowly and it could be years before results are seen.

Nelson mayor Rachel Reese said the desirability of Nelson as a place to live meant it was an ‘‘incredibly challenging’’ place for first-home buyers to get their foot in the door. ‘‘You are paying between $400,000 to $500,000 for not very much.’’

Reese said that while some factors affecting housing and affordability came under the purview of the council, many were under central government control.

(Nelson Mail, Friday 28 August 2020)

Tasman council takes action with housing intensification plan

The Tasman District Council is aiming to increase the density of housing in key urban areas – Richmond followed by Motueka, Brightwater and Wakefield.

The council’s intensification action plan encourages the building of smaller homes at higher densities and multi-storey residential developments.

It also outlines action points to incentivise developers and change the ‘‘cultural familiarity’’ among buyers for detached, single-storey houses.

(Nelson Mail, Friday 28 August 2020)

Renting takes shine off retirement

Jutta Schultheis left Berlin for New Zealand in 1982. Her new life in Nelson meant green space and fresh air. For the first time, she had a garden, something she had craved when she lived in the city.

In Germany, Schultheis had always rented a home. Renting was seen as a legitimate choice and not a fall-back option in the way it is in New Zealand, she said.

Not long after she arrived in Nelson, her friend advised her to buy a house. But Schultheis wanted to rent.

There’s a perception that older people own their homes. This was true in the past: 1996 census data tells us that 80 per cent of over 65s owned their own home. By 2013, this had fallen only slightly, to 75 per cent.

But we’re heading for change, and it’s a big one: by 2040, a third of Nelson’s population will be over 65, and half will live in rental homes.

The way many of us currently view retirement: as a positive lifestyle change, with extra money and time to travel, will also change, sociologist Kay Saville-Smith said.

Home-ownership has allowed current over-65s to maintain a ‘‘reasonable standard of living’’, Saville-Smith said.

(Nelson Mail, Saturday 29 August 2020)

Comments
Anthony Opie Tuesday September 1 2020 03:11 PM
If you are able to contact Cayden Edwards and offer him my e-mail address. I have a 4 br 1930's stucco house with outbuildings located in a quiet cul-de-sac in central Motueka that can be purchased for between $440,000 and $445,000 Thank you