Nelson/Tasman regional property market insights

According to our Trade Me Property data, in November 2024, the average cost of buying a home in the Nelson/Tasman region was $833,950. This was up 2.6% from October 2024, but down 1.9% compared to the year before.

Listing availability was up slightly in November 2024 compared to October, with 857 homes available for sale on Trade Me Property. This was also marginally up year-on-year, as last November had 811 properties advertised for sale on our site.

In November 2024, the average cost of renting a home in Nelson/Tasman was $590, according to our data. This was up 3.5% month-on-month, and a whopping 7.3% year-on-year.

The Nelson/Tasman region shows well-defined peaks and troughs in the supply and demand of rental properties each year, according to Trade Me Property data. We typically see more rental properties available for rent in Nelson/Tasman during the autumn and winter months, and fewer available during the summer months. In November 2024, there were 238 listings on site, compared to 247 in October, and 189 in November 2023.

Among people surveyed in our September 2024 Property Pulse survey* who were seeking to buy a home in the Nelson/Tasman region:

• 3% were currently in the process of buying a home.
• 2.6% were just thinking about buying a property.
• 3.4% were looking to buy a property in the next year.
• 3.5% were looking to buy a property in the next 1-2 years.

Of the respondents who’d ideally buy a property in the Nelson/Tasman region, 60% agreed that now is a good time to buy a property. Would-be buyers in the Nelson/Tasman region say they would be most willing to compromise on the size of the property in order to stay within their buying budget, compared to a range of five other options including size of garden, location and property condition.

The Nelson/Tasman region famously has some of the best weather in Aotearoa. Combine this with stunning beaches, untouched native forests and convenient accessibility to both the North Island and other South Island centres, and it’s understandable why it’s a popular spot for Kiwi to live.

Population growth in the Nelson/Tasman region in the five years to 2023 averaged 1.5%, compared to 1.3% across Aotearoa. According to the most recent census in June 2023, an estimated 115,000 called the region home. Nearly half of these people live in the region’s biggest centre, Nelson, which was home to 55,600.

According to the Ministry for Business, Innovation and Employment (MBIE), in 2021, the primary sector was the region’s largest industry employer, with agriculture, horticulture, forestry and fishing accounting for 11.4% of the region’s jobs. Many of these roles are very seasonal in nature, which may partly explain the seasonal shifts in rental property availability.

In terms of individual businesses, the three largest employers in 2021 were the Nelson Marlborough District Health Board, the Nelson Marlborough Institute of Technology (NMIT) and Nelson Pine Industries (Ltd).

*Data from Trade Me Property Pulse Survey 2024. 1,274 total responses, 40 responses from the Nelson/Tasman Region.