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Market Watch

Market Watch - July 2018

June Overview                                                                                          Printable Version

Activity in residential sales for Marlborough/Kaikoura in June
has decreased in regards to sales volume, down to 73 sales compared to 105 sales in May.

There were 13 section sales for June, down on the 17 sales recorded for May.

However the good news is the median sell price for homes has increased to $440,000 in comparison to May’s $420,000.

The median number of days to sell has remained constant at 35 days for the past 2 months.

The total value of sales for June was $35,226,950 0.

Property Management Roundup

The rental market continues to hold steady as expected with this time of the year. The June statistics* report the median rent for a 2 bedroom house in Blenheim remaining static at $310pw, the 3 bedroom at $380pw and a 4 bedroom rising slightly from $410 to $415pw. Even though there is not the urgency in the market we have seen previously, our owners continue to experience very good occupancy rates with little down time between tenants.

*Ministry of Business, Innovation and Employment statistics for the six months ending 30th April 2018.

Rural Roundup

Total of $23,728,382 sales of lifestyle/rural properties for the first financial period ending June 2018. Total of 43 sales with an average price $539,281.40. Lifestyle sales continue to dominate the market place.

Lifestyle sales of $17,013,500 being 72% of total sales. Horticulture/viticulture sales $2,254,882 being 12% & the remaining 18% $4,190,000 made up of arable, finishing, forestry and grazing.

Anti Money Laundering (AML)

How will this affect you?

As of the 1st July Lawyers and Conveyancers are required to start identifying their clients as part of the Anti Money Laundering legislation .

January 2019 the same legislation will apply for Sellers to be identified by the sales consultant upon listing their property. You will need to make available passport or drivers licence and have proof of mailing address

New Building Consents

Sales overview: (Marlborough/Kaikoura/Picton)