|
|
Duke & Cooke Property News |
|
Published on: 25th January 2010 HOUSE PRICES HIT HIGH POINT HOUSE PRICES HIT HIGH POINTHouse prices in the Nelson region are soaring with latest figures showing buyers are facing the most expensive prices since at least 2005. The figures, released by the Real Estate Institute of New Zealand, show the median house price in Nelson-Marlborough had the biggest increase nationally in December, compared with the same period in 2008. The median price in Nelson-Marlborough increased 14.5 per cent to $343,500. During that time, the total value of residential sales was $78,334,639. The figures showed the median price for a house in the Nelson region was $367,500 last month and 128 houses were sold. This was the highest median price since 2005 - which the figures date back to - when the median stood at $289,500 and 136 houses were sold. A year ago, in December 2008, the median was $296,000 for the Nelson region. (The Nelson Mail, Tuesday 19 January 2010) RECYCLED-GLASS TURF A 'WORLD FIRST'Sand, returned to its original form from thousands of tonnes of crushed glass, is being applied to Trafalgar Park, giving it a distinct coastal look. The sand carpet is part of a "world first" new turf being laid in readiness for Rugby World Cup 2011 events and beyond. Nelson City Council senior project manager Shane Davies said there were no other grounds in the world with recycled glass sand turf. The $5.9 million park upgrade includes a 16-kilometre network of underground stormwater drains, on which 2800 tonnes of crushed recycled glass is being laid in readiness for grass to be sown into it. (The Nelson Mail, Tuesday 19 January 2010) SKIFIELD PLANS IN WORKSRainbow Skifield is forging ahead with plans to upgrade its on-field facilities ahead of the upcoming season. Last year, the Rainbow Mountain Sports Club, which runs the field, was granted a $90,000 suspensory loan from each of the Tasman district, Nelson city and Marlborough district councils, with the plan that the money be spent on badly needed infrastructure. Club member Marin Hay said the club was working hard to get plans for the first stage of an upgrade to the Marlborough District Council so work could begin as soon as possible. The first part of a two-stage redevelopment of the customer service area was near the end of the design stage. It would consolidate ticket sales, gear hire, the ski school and administration area into a single block. The second stage would add new bathrooms. (The Nelson Mail, Tuesday 19 January 2010) NAILED ITMakeover: Connolly's Quay, the well-used fishing platform on Rocks Rd, Nelson, has been redecked with 70 square metres of new timber. It cost the Nelson City Council $6800 to replace the old decking. Property management officer for the council, Stewart Lawson, said they are also looking at replacing the seats. (The Nelson Mail, Tuesday 19 January 2010) FIVE-LOT RUBY BAY VENTURE FOR TRENTOrchard, houses plan High-profile and at-times controversial property owner Alan Trent plans to develop a new subdivision on prime land around his house above Ruby Bay. The complex arrangement around the 12-hectare rural three subdivision between Permin Rd to the north and the McKee Domain to the south is on land that incorporates the site of his own house. A resource consent issued last year gives a company named Cherry Hill Properties authority to develop the five-lot subdivision and to amalgamate a 5.83-hectare lot and 3160-square-metre lot into one title. The Cherry Hill subdivision would be built around the existing 3500 cherry trees, and there were plans for another 5000 trees. (The Nelson Mail, Wednesday 20 January 2010) WORK STARTS ON CREATING VILLAGE GREENIt has been 17 years in the making, but a village green at the Glen, north of Nelson, is finally under way. The three-hectare green, at the end of Glen Rd next to the Boulder Bank, will include a car park, toilets and new native plants. Between November 2006 and April last year, the council paid $186,470 for two sections of land. Construction on the green began on January 11 and will be similar to the Maitai Cricket Ground. Council parks and facilities manager Paul McArthur said work on stage one was expected to be done by March 23 at a cost of $210,000. It includes improving drainage, sealing a car park and forming footpaths. Stage two of the development will include footpath links to the Boulder Bank, further plantings and toilets at an estimated cost of $250,000. (The Nelson Mail, Wednesday 20 January 2010) RESTORATION A SATISFYING JOURNEY OF DISCOVERYIf Nick Ferrier can't sleep at night, he counts windows. He has 350 in his Nelson house, as well as 55 doors, and they are ingrained in his mind because they are part of a huge restoration project now completed. Better known to Nelsonians as The Castle, it was built in 1854 for Alfred Fell. He sold it to wealthy businessman Nathaniel Edwards, founder of the Anchor shipping company, who expanded it to 55 rooms. Sunny-side, as it was known, was a grand Victorian Gothic home with towers, but by the time the Ferriers discovered it in 2003 it was "a complete disaster". The Ferriers bought it following an auction for $1.1 million, and didn't even realise the three-bedroom flat in it had once been the ballroom. Nelsonians can appreciate it if they attend Sunday afternoon high tea in the ballroom and the house is likely to be open for touring during Heritage Week in March. (The Nelson Mail, Wednesday 20 January 2010) TOP SITE VACATED AS STAX COLLAPSESNelson fashion store Stax in the Fashion Island shopping complex will close on Monday, after the company that owns it was placed in receivership. Stax had been at Fashion Island since the Hardy St shopping complex opened in late 2007. (The Nelson Mail, Friday 22 January 2010) PROPERTY WATCHFormer Origins bar sold A Marlborough-based investor has purchased the former Origins Bar at 7 Haven Rd for an undisclosed sum. Colliers International agent Ken Montgomery said the investor was looking for two tenants to lease the two halves of the building, one of which had offices and the other open plan. "The new owner would consider fitting out to the tenants' requirements," Mr Montgomery said. The property had been for sale for over a year. Paula opens new Tiny Tots Paula's Tiny Tots has opened its second centre for youngsters aged six months to two years opposite Paula's Preschool Tahunanui in Parkers Rd. Owner and teacher Paula Holder said Paula's Tiny Tots Tahunanui had space for 12 babies, and lots of room for them to explore and move around. "We believe little bodies should be in a home away from home." Half the spots at Tiny Tots had been filled without advertising, and it was looking to add one more person to the three-strong teaching staff it currently has. (The Nelson Mail, Saturday 23 January 2010) DID YOU KNOW?Duke & Cooke independent valuations can be used for taxation related valuations. THOUGHT FOR THE WEEKA bargain is something you don't need at a price you can't resist. .. The Nelson Mail FIRST-HOME BARGAINS ‘HAVE GONE’FIRST-TIME homebuyers in Nelson and Marlborough are facing one of the toughest markets in New Zealand, with increasing prices and interest rates pushing affordability further out of reach, a new report says. A report issued by interest.co.nz shows the median house price in Nelson/ Marlborough was $343,500 in December. This was 14.5 per cent more expensive than a year ago when the median was $300,000. Interest.co.nz editor Bernard Hickey said that in NelsonMarlborough, based on a standard household profile, it now takes 42.4 per cent of the median take-home pay of two adults (with one working part-time) to service a mortgage of a median home bought in December 2009. During the same time in 2008, it was 38.3 per cent. In Nelson/ Marlborough, a weekly median house mortgage has been pushed from $393.60 to $455.92 over the past year. The median weekly take-home pay for a typical buyer in these regions was $694.54 in December 2009, up from $654.16 during the same time the previous year. However, during the same time, disposable income fell from $260.77 to $238.62. The Nelson Mail FIRST-HOME BARGAINS ‘HAVE GONE’FIRST-TIME homebuyers in Nelson and Marlborough are facing one of the toughest markets in New Zealand, with increasing prices and interest rates pushing affordability further out of reach, a new report says. A report issued by interest.co.nz shows the median house price in Nelson/ Marlborough was $343,500 in December. This was 14.5 per cent more expensive than a year ago when the median was $300,000. Interest.co.nz editor Bernard Hickey said that in NelsonMarlborough, based on a standard household profile, it now takes 42.4 per cent of the median take-home pay of two adults (with one working part-time) to service a mortgage of a median home bought in December 2009. During the same time in 2008, it was 38.3 per cent. In Nelson/ Marlborough, a weekly median house mortgage has been pushed from $393.60 to $455.92 over the past year. The median weekly take-home pay for a typical buyer in these regions was $694.54 in December 2009, up from $654.16 during the same time the previous year. However, during the same time, disposable income fell from $260.77 to $238.62. The Nelson Mail |
|
This publication is compiled by Duke & Cooke Ltd, valuation and property specialists. The information contained within this newssheet has been obtained from various local sources and no responsibility is held for any parties relying on the accuracy of this information without obtaining independent verification. To contact us regarding circulation of this service: Phone +64 (03) 5489104, Fax +64 (03) 5468668, or email: admin@valuersnelson.co.nz |