News and Publications

Property News: 15th December 2014

TASMAN TRAIL GETS CHUNK OF FUNDS

The Tasman District Council has received confirmation of $212,500 funding for upgrades to the region’s Great Taste Cycle Trail. The Government is investing nearly $1 million in 13 projects to help maintain the quality of the New Zealand Cycle Trail. Tasman received the biggest share with $212,500, while the Nelson City Council will get $21,000. The $212,500 will be matched by the district council and the Nelson Tasman Cycle Trails Trust to make up the $424,000 needed to complete 10 safety, erosion and enhancement upgrades on the Richmond-to-Kaiteriteri section of the trail. The required upgrades stem from a test-ride, in August, of the Richmond-to-Kaiteriteri trail by Jonathan Kennett, the project manager for the NZ Cycle Trails, to see if it came up to Great Rides status. 

(The Nelson Mail Monday, December 08, 2014) 

NELSON, TASMAN HOUSE VALUES UP

Nelson and Tasman property values have both bounced up. Latest figures from Quotable Value show Nelson house values for November were up 1.6 per cent over the past three months and up 2.3 per cent in a year. The average value is now $409,126. Tasman has seen a turn around from October, when values had dropped over the year. Instead in November there was a slim 0.6 per cent rise over the past three months and a 1.5 per cent increase in a year. Since the previous market peak of 2007, the Nelson market has increased 6.8 per cent and Tasman 3.4 per cent. 

HOUSE VALUES

Average current value 12-month change
Tasman $415,212 up 1.5%
Nelson $409,126 up 2.3%

(The Nelson Mail Tuesday, December 09, 2014) 

ANZAC WALKWAY MEMORIAL MOOTED

A section of the Maitai Walkway could be named Anzac Walkway in commemoration of the soldiers who fought in World War I. Nelson city councillors debated naming the new section of the walkway adjacent to Rutherford Park at the latest governance committee meeting. Council staff will consult with the community on naming the path Anzac Walkway and report back to councillors. 

(The Nelson Mail Wednesday, December 10, 2014) 

RENEWED CONFIDENCE SEES HOME SALES SOAR

Renewed confidence in the housing market has led to a 30 per cent increase in home buyers in Nelson City last month, according to the latest figures from the Real Estate Institute of New Zealand. First National residential and marketing salesman Julian Kett said the statistics, which compared October and November 2014, were positive for the region. Stable interest rates were contributing to this, said Kett. ‘‘Six to twelve months ago there was talk of interest rates going up as fewer people were buying. We are also finding many people want to get in before Christmas. ’’He had also noticed more buyers in the region from Auckland and Christchurch.

HOUSING MARKET

Median Price for November 2014
Nelson City $367,500
Richmond $470,000
Motueka $292,500
Volume sold in November 2014 compared
with October 2014
Nelson City +30.8 percent
Richmond +15 percent
Motueka -9.5 percent
Source: Reinz

(The Nelson Mail Thursday, December 11, 2014) 

CITY FACES WAIT FOR CLEANER BURNER

A Nelson-based company has become the first in the country to develop a wood burner that meets new ultra-low-emissions testing – but Nelson may be one of the last places in the country to be able to use it. Jayline sells a German-designed Walltherm, which has been modified and has gone through new, stringent Environment Canterbury testing. The company sees the results as a major breakthrough, with technician Ross Sneddon describing the burner as the first of a new generation of superclean and efficient wood fires that will take over from current ones within five to ten years.  Nelson City Council group manager strategy and environment Clare Barton said the Nelson Air Quality Plan did not allow ultra-low-emissions woodburners to be installed in new homes or homes without an existing burner. Any new technology would need to be considered as part of a review of the Air Plan. At its meeting next week, the council will consider starting the review next year instead of in 2018. 

(The Nelson Mail Friday, December 12, 2014) 

MOTUEKA'S RISE IS THE BIGGEST

The latest property valuations are in the mail to Tasman ratepayers and if there is a winner for land and capital value rises, Motueka residents hold the gold. The average capital value increase across the district is 4 per cent. In Motueka, the average residential property capital valuation has increased 8.1 per cent, Richmond is up 6.9 per cent and Golden Bay as a whole is down 0.2 per cent. Quotable Value’s South Island manager Brendon Bodger told Tasman District councillors yesterday there had been a slow, steady increase in values across the district, which put Tasman in a better position than a lot of provincial New Zealand. Business, industrial and commercial capital values remained virtually unchanged over the last revaluations three years ago, farms were about 5 per cent up, lifestyle blocks had stayed the same and residential properties had seen a 5-6 percent increase. Land values told a similar story, although with a slightly higher increase across residential properties. The valuations are as of September 1 and the objection period is open to February 9. The council will use the new valuations as a basis for dividing up its required rate take from July 1. However, there is no direct relationship between a property valuation and an increase or decrease in rates. 

HOW MUCH?

Residential properties average capital value
Richmond $438,000 up 6.9 percent
Motueka $371,000 up 8.1 percent
Takaka $276,000 up 0.5 percent
Murchison $186,500 up 0.6 percent
Source: QV

(The Nelson Mail Friday, December 12, 2014) 

NEW YEAR START FOR SUTER GALLERY UPGRADE

The wheels of Nelson’s Suter Art Gallery upgrade are in motion with work set to start on January 12. The gallery will move to the former Mountain Designs building on Halifax Rd on January 9 and will be housed there for the duration of the rebuild. The Bridge St site is expected to be completed by the end of 2016. Nelson City Council received four tenders for the building contract and has awarded it to Nelson company Scott Construction for $8m. The contract was chosen with a 70 per cent weighting on price and 30 per cent on methodology. The council has capped its spend on the gallery at $6m and the Bishop Suter Trust has agreed to match that. If the cost exceeds the $12m limit the trust will have to pay the balance or rein in the initial plans. 

(The Nelson Mail Saturday, December 13, 2014) 

THOUGHT FOR THE WEEK