Has the bubble burst?
Nelson's property boom has suffered a sudden slowdown as the region's market starts to cool.
Friday, February 20th 2004, 3:36AM
by The Landlord
Just released institute statistics reveal the median selling price of a home in the Nelson-Marlborough region dropped by more than $20,000 to $265,750 - the single biggest decline across all regions last month.
The Nelson area median price dropped from $322,625 to $310,875 - better than the $203,531 posted last January but not enough to buoy residential sales.
Nelson city and Richmond sales dropped 21 percent, Motueka by 27 percent, 23 percent in Golden Bay, and a whopping 33 percent in Nelson country.
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