March 2017 Urban Development Capacity Report

This page contains the inaugural Nelson-Tasman monitoring report for the quarter ended March 2017.

Summary

  • Building consents for dwellings in Tasman 2012-2017 exceeded growth in number of households
  • Building consents for dwellings outstripped creation of titles in financial year ending June 2016 – so vacant sections with title are being taken up faster than new titles are being created. This trend was reversed for Richmond for the Jan-March 2017 quarter though
  • A quarter is a relatively short period to monitor
  • House prices increased by 14% across Nelson and Tasman year ended March 2017. Both districts experienced similar price trends but the median house price in Tasman is higher than Nelson - $505,000 versus $450, 000.
  • Central Government’s and Massey University’s housing affordability tool, while different in their assumptions, both conclude our District’s housing is generally unaffordable.
  • Supply of affordable homes in Nelson & Tasman is affected by a number of factors other than supply of land and these need further investigation. E.g. land banking, effects of lending rules, construction industry capacity constraints and building costs.

Download the Report