News in brief

Apartments six months off completion

Kāinga Ora’s apartment development at 125 Waimea Rd is now expected to be finished in early 2025, slightly later than anticipated. Julia Campbell, regional director for Nelson, Marlborough and West Coast, says once they are completed, they expect to settle on the purchase of the property from the developer before beginning the process of placing people into the 29 new one-bedroom homes. “It is likely that the people who will live in these homes once we have purchased them will be a mix of current customers who need to move for a variety of reasons and applicants from the Ministry of Social Development’s housing register.”

More hospo spend over Matariki weekend

The region’s hospitality spend upticked over Matariki weekend, but its non-hospitality spend dipped, and it was the same story for the region’s retail merchants overall last month. Data released by Aotearoa’s leading payments innovator Worldline shows Nelson’s Core Retail merchant spending between 27 and 30 June was 2.1 per cent lower compared to the weekend of 29 June to 2 July 2023, with $7.4 million spent over the weekend this year. In contrast, $2.6 million was spent on hospitality this year – and increase of 2.3 per cent.

New World begins build in September

Construction of the planned New World store at Three Brothers Corner in Richmond is expected to begin in September. A spokesperson for Foodstuffs says the project is well under way, with plans and drawings scheduled to be lodged for building consent this month. Site works will take place before construction begins.

$32k for yacht club strengthening

The Nelson Yacht Club has received a NZCT grant of $32,418 to go towards the seismic strengthening of its building. A local engineering firm indicated in September 2022 that it could be earthquake-prone after discovering a bracing shortfall and a further assessment found that the building was likely to be under 34 per cent of the national building standard. The club needs to raise half a million dollars for the project.

Nelson on track to be sunniest

Rainfall in the Nelson region was “well above normal” in June, according to Niwa. The region experienced over 149 per cent more rainfall than what is typical for the month of June, while temperatures were also well above average. New data released by Niwa says the region had the fourth hottest day in June since recordings began in 1862, when temperatures topped 19.2 degrees on the first of the month. Nelson still leads the race for the sunniest place in the country with 1401 hours to date, which puts Nelson in the lead ahead of Marlborough (1378).

Housing market cools with the season

Nelson Tasman’s housing market has cooled with the season. Nelson’s average home value has shrunk by another 0.9% in the June quarter to reach $771,804. That figure is now 1% less than the same time last year, and 0.7% less than at the start of the 2024 calendar year. “Residential property values are relatively weak at the moment, reflecting a high interest rate environment, the increased cost of living, and a weak economy,” QV Nelson/Marlborough manager Craig Russell commented. “Listing numbers remain high within Nelson, but buyers are very cautious and completing significant due diligence. We’re seeing numerous price reductions, with some properties even being withdrawn from the market entirely until conditions improve.”