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Building and Construction Minister Nick Smith announced government approval of 20 new Special Housing Areas. These developments will total approximately $800 million. Most of these new homes, being approximately 1050, are to be built in Richmond West area.

New market planned for Nelson CBD: Farewell Spit eco-sanctuary partnership: SHAs put pressure on schools: Nelson's rental crisis reaching 'critical' point

The local commercial property market has maintained a steady level of sales activity since 2012. Declining yields were noted for well located, securely leased properties with a high seismic rating on the back of historically low interest rates. Analysis is now showing a stabilisation of yields across all sectors. Financiers and investors remain keenly interested in weighted average lease terms and seismic rating in considering the risk profile of any property.

No dam: I'm out, says grower: 'Very ordinary house' has a stunning makeover: New look for Shoreline Cafe: Nelson's big building boom: New housing areas for 1700 homes:

The key drivers of population growth through migration, low interest rates, stable economy and low unemployment still combine to underpin the market creating a stable economic climate. Prospective purchasers must make quicker decisions when buying a property especially in the lower price bracket. Vendors who are prepared to meet the market are achieving successful sales.

Grant to save landmark building: From church to cafe: Residents riled up over 30m setback rule: Plans for new multi-million dollar hospice building released: Dam plan gets $7m grant: Golden Bay rec centre 'losing money' over lack of car parks: councillor

Demand for sections fires water plan: Flying start to new Mega project: Nelson property growth slows: TDC to assess risk of bores: Grassroots campaign for new hospice: Dairying not affecting nitrate level: Old deed stalls church sale

Action urged over dam: Urban water rates may rise: New plan to save grandstand: Eco apartments charging ahead: Growth plans follow winery sales: Review says dam is best water plan: Grandstand gets three-month stay: TDC angst over dam funding: Cafe plans for historic building:

Dam cost worries Waimea Plains farmer: Flooding fears for Pohara SHA: War over house placement ends: Donation boosts reserve project: Wakatu sells share in Ocean View apartments: Dam land plan heads to court.

The average time to sell in June was 33 days with the average for the last 3 months of 32 days. The 12-month average is 28 days. This indicates the pace of the market has slowed slightly with a reduction in demand leading to longer marketing periods.