Nelson house prices slide again
Nelson-Marlborough property prices have dropped for the second successive month as a well-stocked market undermines prices.
Tuesday, March 23rd 2004, 12:24AM
by The Landlord
Real Estate Institute Nelson Marlborough president Darryl Marshall reiterated what he said after January prices showed a drop in the region: it was too early to say whether the boom was over.
Just released figures show the region's median house price fell to $248,500 last month, down from $265,750 in January and more than $280,000 in the month before.
At the same time, the national median selling price rose from $227,750 to $231,000, with rises recorded in six regions and falls in four.
Nelson-Marlborough's slide ended its run as the region with the strongest year-on-year price increase, with Otago's 48.3 percent, Southland's 39.5 percent, and nearby Canterbury-Westland's 35.13 percent outpacing 24.3 percent growth in the top of the South Island.
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