An Opportune Time to Purchase in New Zealand
29 July 2025
The current property market conditions for prospective purchasers in the Nelson region are very favourable.
Property values are slowly turning but are largely still at a level accessible for first home buyers.
Properties in Nelson within the first home buyers price range (often between $500,000-$700,000) are competitive, with multiple offers being considered by vendors.
Assisting buyers is the Reserve Bank making consistent cuts to the OCR in the last year. These cuts lead to lower mortgage rates and mean loans are more accessible for buyers.
What does the Tasman property market look like for buyers?
In Tasman, we saw a significant rise in sales from March 2024 to March 2025, with a 48% increase from 70 to 104 property sales respectively. This can be attributed to increased listings in the area, as well as the favourable conditions noted above for purchasers.
In 2021 in Tasman, we saw a hugely significant boom in property prices, creating a market dominated by sellers. What we are experiencing now can be seen to be a correction in these prices, with more stability expected to follow in the next 12 to 18 months.
What impact has the Brightline Test had on the property market in Nelson and Tasman regions?
The easing of the Brightline test from 10 years to 2 has also seen increased activity in the first home buyers’ market. Investors are now able to sell investment property acquired 2 or more years ago without having to pay tax on any profits made. This has created significant competition amongst first home buyers seeking to enter the market.
How Pitt & Moore can help
At Pitt & Moore, we can offer considerable market knowledge and a deep understanding of the Nelson/Tasman property market. We can also expertly assist first home buyers through an often confusing and daunting process. It is important to reach out to a solicitor as early as possible in your purchasing journey, as this will ensure that requisite timeframes are allowed for to complete key tasks, such as withdrawing your KiwiSaver or confirming your finance approval with your bank or broker.
Ready to take the next step toward home ownership in Nelson or Tasman?
Contact Pitt & Moore today for expert legal advice and guidance tailored to your property goals.
Disclaimer: The information contained in this publication is of a general nature and is not intended as legal advice. It is important that you seek legal advice that is specific to your circumstances.
