Property prices in Nelson and Tasman are falling at a slower rate than previously, signalling the market is stabilising, Quotable Value central region manager Blue Hancock says.
Monday, June 20th 2005, 6:47AM
by The Landlord
The latest Quotable Value figures for the year to May 31 showed Nelson and Tasman were again the only areas where residential property prices fell.
Nelson prices dropped 2 percent and Tasman prices fell 0.9 percent, compared with a national gain of 13.5 percent.
However, the drops are less than in the year that ended in April, when Nelson prices fell by 2.9 percent and Tasman prices 2.8 percent, and in the year to March, when Nelson prices dropped 4.3 percent and Tasman 5.2 percent.
Mr Hancock said there had been a "slight lift" in the Nelson and Tasman markets over the past two or three months.
