The latest rental market insights released by realestate.co.nz highlight continued stability for property investors across the Top of the South, with Nelson and the surrounding Bays reaching a record high average rental price.

According to the February rental report by Hannah Franklin, the national average asking rent for February 2026 was $629 per week, easing slightly by 1.9% year-on-year. While some areas around the country are seeing minor adjustments, the rental market across Nelson, Tasman, and Marlborough continues to demonstrate resilience.

Across Nelson and the Bays, the average asking rent climbed to a record $610 per week, up from $600 in February 2025 — representing a 1.8% year-on-year increase.

This new record highlights the ongoing strength of the local rental market and reflects the continued demand for quality homes in the Nelson and Tasman region. For landlords, this steady growth signals stable rental returns and a healthy long-term investment environment.

In Marlborough, the average asking rent for February was $558 per week, compared with $568 at the same time last year, a 1.6% year-on-year decrease.

However, the number of new rental listings rose significantly to 55 properties — up 48.6% year-on-year. This increase in supply has provided tenants with more choice and allowed rents to adjust slightly in response to current market conditions.

Overall, the latest data points to a balanced and stable rental market across the Top of the South:

• Nelson & Bays achieving a record high average rent of $610 per week
• Stable rental growth supporting consistent investment returns
• Increased listing activity helping maintain a balanced market
• Ongoing tenant demand across Nelson, Tasman, and Marlborough

For landlords in the region, these trends reinforce the long-term strength of residential property investment, particularly when properties are well presented and professionally managed.

At Summit Property Management, we’re working with landlords across Nelson, Tasman, and Marlborough every day and continue to see strong tenant demand for quality rental homes throughout the region.

If you’d like to understand what your rental property could achieve in the current market, our local property management team would be happy to provide an updated rental appraisal and advice on maximising your investment.

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Article Source: Rental market insights from realestate.co.nz, February 2026 report by Hannah Franklin.

The latest figures from the Real Estate Institute of New Zealand show the property market across Nelson, Tasman, and Marlborough remains steady overall, with modest price growth and continued buyer activity in key price brackets.

Prices Continue to Edge Up

Median property prices increased across all three regions compared with the same time last year.

Across the wider region, the combined median price now sits at $751,000, reflecting gradual growth rather than rapid market movement.

First Home Buyers and Investors Most Active

Buyer activity in February was led by first home buyers, particularly those searching for homes under $800,000, alongside investors returning to the market.

Open homes for newly listed properties attracted good attendance early in the month. However, overall enquiry levels softened slightly after the first couple of weeks.

A Market That Favours Buyers

Current conditions continue to favour buyers, largely due to increased property choice.

With more listings coming to market, buyers have greater opportunity to compare options and take time making decisions. Vendors are increasingly adjusting price expectations to align with market conditions, although some sellers who purchased during stronger markets still hold higher expectations.

Sales Activity Lower Than Last Year

What This Means for Buyers and Sellers

Overall, the local property market remains stable and balanced.

If you’re considering buying or selling, speaking with a local expert can help you understand where your property sits in the current market.

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VIEW MARKET REPORTS

Source: REINZ - New Zealand Property Report - February 2026

As we kicked off 2026, the property market across the Top of the South showed a mix of movement and steady conditions.

January typically sees lighter foot traffic compared to the peak selling months, and this year was no exception. Attendance at some open homes was quieter later in the month, though early-month activity remained solid.

First home buyers continued to be the most active group across the region, closely followed by owner-occupiers. With rising interest rates and a notable supply of properties under the $1 million mark, the market remains favourable to buyers.

After a busy end to 2025, the start of the year saw more measured activity. Buyers are taking time to weigh decisions, while sellers are generally pricing with market realities in mind.

As we move into autumn, many in the industry will be watching how interest rates and buyer confidence shape the next phase of the market.

Stay tuned for more local insights and updates as the year unfolds.

Data Compared to January 2025, REINZ Monthly Property Report (January 2026) Published February 2026.

If you’re investing in property, you’ll likely hear the term rental yield. Simply put, rental yield measures how much income a property earns compared to its value. It’s a helpful way to see how hard your investment is working for you.

At Summit Property Management, we help investors understand the numbers so they can make confident decisions.

Gross rental yield is the annual rental income expressed as a percentage of the property’s value. It’s a quick calculation and doesn’t include expenses.

Formula:
Gross Rental Yield = (Annual Rent ÷ Property Value) × 100

Example:
$600 per week × 52 weeks = $31,200 per year
$31,200 ÷ $700,000 × 100 = 4.46% gross yield

Gross yield is useful for comparing properties, but it doesn’t show the full picture.

Net rental yield takes things a step further. It deducts costs such as:

This gives you a clearer view of your true return.

Compare our fees

Before purchasing an investment property, research comparable rentals, understand demand in the area, and obtain a professional rental appraisal. Calculating both gross and net yield will help you make informed, confident decisions.

If you’d like a rental appraisal or expert advice, contact Summit Property Management today.

Buying a property at auction can feel fast paced and unfamiliar — but with the right preparation, it can also be one of the clearest and most confident ways to purchase.

Whether you’re a first home buyer, investor, or returning to the market, preparation is everything. Here’s what you need to know before auction day so you can bid with confidence.

With the right preparation and guidance, buying at auction can be a fast, transparent, and rewarding way to secure your next property.

If you’re thinking about bidding, talk to a financial adviser at Mortgage Money, who work closely with the experienced team at Summit Real Estate. From pre-approval through to unconditional finance, we’ll help you understand your options, stay within budget, and bid with confidence on the day.

Buyers Guide to Auction
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Number of Sales December2024

Number of Sales December2025

Average Number of Days to Sell*

Average Sale Price

Nelson

68

87

33 vs 35 in December 2024

$718,000

Tasman

46

74

30 vs 30 in December 2024

$810,000

Marlborough

73

70

30 vs 30 in December 2024

$660,000

Source: REINZ – New Zealand Property Report, December 2025  *Compared to December 2024, REINZ Monthly Property Report Published January 2026.

Nelson saw the median price decrease 4.3% year-on-year, settling at $718,000.
Marlborough experienced an uplift, with the median price up 6.5% year-on-year to $660,000.
Tasman recorded a slight softening, with the median price down 1.6% year-on-year to $810,000.

Across the region, first home buyers remain the most active segment, providing consistent momentum. Some overseas buyer activity was noted in Nelson, while the Marlborough Sounds saw a reduction in buyers operating above the $1 million price point.

Vendor expectations continue to adjust to current market conditions. As supply has begun to outweigh demand in some areas, many sellers are adopting a more realistic and pragmatic approach to pricing.

Open home attendance varied, with stronger turnout at selected properties, though overall numbers remained modest. Auction activity also differed by location. In Nelson, auctions are increasingly being used as a sales strategy by agents, while Blenheim saw limited auction attendance and lower seller confidence in auctions as a preferred method of sale.

Encouragingly, market sentiment is improving, driven by increased buyer interest, steady sales volumes, and growing positivity among participants. Local salespeople expect the market to remain a buyer’s market in the near term, with optimism that sales volumes will lift as both local and visiting buyers re-enter the market.

The Top of the South average days to sell currently sits at 35 days, reflecting a market that is active but still measured — rewarding well-presented, well-priced properties.

WATCH MARKET REPORT VIDEO

Renters across the Nelson Tasman region are heading into 2026 with significantly more choice than this time last year, as new data reveals one of the largest increases in rental listings anywhere in New Zealand.

Figures from realestate.co.nz show that new rental listings in Nelson and Bays jumped 92.6% in December 2025, compared with December 2024. A total of 52 properties were listed during the month, up from just 27 a year earlier.

This surge was reflected in the overall availability of rental homes, with total rental stock in the region rising 88.5% year-on-year to 49 properties. Nelson and Bays ranked as one of the strongest-performing regions nationally for new rental supply, second only to Wairarapa.

According to Summit Property Management General Manager, Stew Henry, the increase has been driven by several factors.

“We’ve seen a higher number of tenants purchasing homes over summer, which means existing rental stock needs to be re-let,” says Henry.

“The properties new to the rental market are a mix of investors and people moving out of town who wish to retain ownership of their homes.”

Henry says Summit experienced a particularly strong end to the year, with a bumper letting month in December, signing 52 new tenancies across Nelson and Marlborough.

Nationally, realestate.co.nz data shows new rental listings rose 19.8% year-on-year in December to 5,349 properties, up from 4,464 in December 2024. The national average asking rent also declined, falling 2.4% year-on-year to $626 per week, with 13 of New Zealand’s 19 regions recording price decreases.

Realestate.co.nz spokesperson Vanessa Williams says the increase in listings is shifting the balance for renters.

“A nearly 20 percent increase in new listings certainly provides more choice for renters, and in some regions, that choice has doubled,” Williams says.

“With stock building and competition among landlords rising, renters will continue to find themselves in a stronger position to negotiate on price or lease terms in 2026.”

The data highlights a rental market entering 2026 in a very different position to previous years—particularly in regions like Nelson Tasman, where supply has rebounded strongly.

Source: Kate Russell, Top South Now
Read the original article here.