The latest data from the Real Estate Institute of New Zealand (REINZ) shows a steady but cautious market across the Top of the South. 

Mar-26

Feb-26

Mar-25

Nelson

710,000

738,768

650,000

Tasman

794,000

674,000

655,000

Marlborough

710,000

860,000

851,000

Nel/Marl/Tas Region

749,000

760,000

738,000

Source: REINZ, Data Compared to March 2025, REINZ Monthly Property Report Published April 2026.

Properties are selling faster, with the average days to sell now at 38 days. Four days quicker than March 2025. Sales activity also increased 32.4% from February, reflecting a lift as buyers returned to the market after summer. 

Median prices dipped slightly, down 1.4% from February, but are up 1.5% compared to March last year, indicating overall price stability. 

The market continues to be driven by owner-occupiers and first home buyers, with less activity from investors and the top end. At the same time, higher stock levels are seeing vendors price more realistically to meet the market. 

Open home attendance has remained consistent throughout campaigns. While fewer auctions were held, those that did take place achieved solid clearance rates. 

Market sentiment remains cautious. Buyers are active but more considered in their decisions, influenced by wider economic factors. With stock levels still elevated, both buyers and sellers are approaching the market carefully. 

Overall, conditions are balanced. Well-presented and well-priced properties continue to attract interest and achieve results. 

Read more Property Reports 

If you’re searching for professional property management for your investment property, you’re not alone. Many landlords across Nelson, Tasman, and Marlborough are looking for a more reliable, stress-free way to manage their rentals and maximise returns.

Whether you’re dealing with poor communication, unreliable tenants, or the time pressure of self-managing, the right property management team can make all the difference.

That’s where Shift to Summit comes in.

Your investment property should be working for you — not creating unnecessary stress.

A professional property management service helps you:

For many landlords, making the move to a trusted property management company is the key to protecting and growing their investment.

At Summit, we provide a full-service property management solution designed to give landlords complete peace of mind.

Our experienced team offers:

With over 30 years of experience and the strength of the region’s largest real estate network, we connect your property with the right tenants and deliver consistent results.

One of the most common concerns we hear is:
“Is switching property managers difficult?”

The answer is no.

With Shift to Summit, we make the process simple and seamless. Our team handles:

You can enjoy better service — without the hassle.

Shift to Summit is ideal for:

No matter your situation, our goal is to make property ownership easier and more rewarding.

To help you get started, we’re offering 3 months free property management fees when you make the shift.

It’s a great opportunity to experience the benefits of professional management while improving the performance of your investment.

Terms & Conditions: Summit requires a minimum 12-month management term. The 3 months free fees offer cannot be used in conjunction with any other promotion or discount.

If you’re ready to move to a more professional, proactive property management service, now is the time.

Book your free rental appraisal or learn more here

Or speak to your local Summit Property Management team about how we can support your investment goals.

Summit Property Management is proud to be part of a community that looks out for one another, and that means supporting important research to help shape the future of housing in our region.

Age Concern Nelson Tasman is currently running a housing survey to better understand the experiences and future needs of older residents across Nelson and Tasman. This is valuable work and we encourage the community to get involved.

Who can participate?

The survey is open to two groups:

Each survey takes around 5 minutes to complete, and your responses will help inform future housing planning and decision-making right here in our community.

Plus - You Could Win!

As a thank you for your time, participants who wish can optionally provide their contact details to go in the draw to win a $100 PAK'nSAVE voucher. This is entirely optional and won't be linked to your survey answers.

Be Quick - Surveys Close 19 April 2026.

If you or someone you know fits either of the above groups, we'd love for you to take five minutes to share your experience. Every response counts toward building a better picture of what our older residents need now and in the future.

👉 Homeowners aged 55 and over 👉 Renters aged 65 and over

At Summit Property Management, we believe good housing outcomes start with listening to our community. Thank you for helping to make that possible!

We are delighted to announce the appointments of Callum Gilchrist, Glyn Delany and Gordon Webb to key management positions within the Summit Group. The tremendous support throughout the local communities has enabled Summit to achieve in excess of 25,000 sales and remain the market leaders for the past 3 decades, these new management appointments will continue to build on those strong foundations. 

Whenever I’m asked why we remain so very committed to providing the Summit salespeople, our clients and customers the support of a highly qualified and effective group of Managers, there is always a very simple answer, “Does a builder stop learning once they have completed the apprenticeship”, no. Once a builder completes the training, they go on for many years learning before becoming a craftsman who is truly experienced. 

Real Estate is no different, I think back to 2003 when Gordon Webb started with us, “at our training; nobody asked more questions than Gordon Webb” and over the past 22 years, he has gone on to sell many hundreds of properties and developed a remarkable depth of knowledge. Gordon tells me when Glyn Delany started in 2017, he also asked more questions than anyone else! 

The best teams have the best coaches, managers and leaders who create an engaging work environment where market changes and challenges are faced together. Salespeople continue to grow by working with experienced colleagues and talented managers. You cannot manage a real estate office by numbers alone, but numbers do count. Our local managers bring a combined 230 years of industry experience, averaging over 20 years each.

I am stepping down from the Group Sales Manager role but know the level of support our team, clients and customers receive is from a highly experienced, talented and committed team of Managers, is second to none.

Allister Nalder
Agency Licensee, AREINZ

Gordon Webb will commence as Summit Group Sales Manager, becoming the primary point of contact for the management team. Gordon brings extensive experience from years at the coal face of real estate and will act as a trusted advisor to managers across the region.  

His focus will be on supporting managers with marketing strategies, negotiation scenarios, multi-offer and providing guidance on how to navigate a wide range of real-world situations. His practical insight and experienced perspective will help ensure our salespeople are well-equipped to deliver strong outcomes for our clients. 

Gordon’s role is designed to further strengthen day-to-day operational support for the sales team. He will also provide an important link between the sales environment and Summit’s Realty Services in marketing, training and operating systems ensuring they are aligned with what truly benefits clients and our sales team. 

Gordon has played an integral role in shaping Summit’s culture, fostering inter-office collaboration and supporting a strong sense of unity across business, after many years of managing the Summit groups top office, Gordon looks forward to assisting others further their career.

Callum Gilchrist
Appointed Sales Manager Summit Stoke. Callum Gilchrist appointed Sales Manager Stoke, marking an exciting step forward in his career. Callum joined Summit’s Nelson office in 2019 and quickly established himself as one of the city’s leading names in real estate, despite entering the industry during the unusual Covid period. Within a short time, he achieved both Top Rookie and joined Summit’s Champions group, demonstrating his strong capability and level of service to clients. 

Callum’s development has been shaped by experience across several high-performing teams, learning from respected leaders within the business and gaining valuable insight into different markets and sales environments. Now stepping into a leadership role, he brings energy, local knowledge and a strong commitments to ongoing growth and development. 

At 34 Callum is one of the groups youngest managers for some time; he fully embraces the modern marketing method and the opportunities these create for both clients and colleagues. 

Summit has long encouraged its people to consider future leadership opportunities, including completing management qualifications for those interested in progressing their careers. Callum has completed the REA Branch Manager qualification and looks forward to joining Tim McQuade in managing Summit’s founding office, Stoke.

“Since starting in real estate 6 years ago, I’ve always aimed for a management role. With leadership experience in team environments, I’m excited for this next step. To past and future clients — I’ll still be selling at a high standard, so feel free to say hello in Stoke.”

Glyn Delany
Appointed Branch Manager Summit Richmond. Glyn will join Mandy Springer in leading the Summit groups top office from 1 April. What an incredible amount of experience Glyn has gained since commencing his real estate career with Summit in 2017, over those past 8 years Team Delany has consistently been the regions premier performer. 

He has covered very diverse geographic and sales price range, from modest first homes through to many multi-million dollar sales. Recognised for his ability to not only adjust to changing market conditions but also the highest levels of work ethic and skill. 

Glyn has completed the field experience and qualifications required for Agent Licensee status and holds Associate membership AREINZ. On average over the past few years, Glyn has registered 2 sale agreements weekly and takes a lot of pride and satisfaction from so many happy clients and helping so many purchasers find their new home. 

Glyn has been coaching others in real estate for several years and this new appointment is a continuation of his desire and willingness to do the very best by everyone. 

 “I’m honoured to be Branch Manager of our Richmond office and excited to support the team’s success and growth. 

Thank you to my clients for your continued support. Team Delany will keep delivering the service you deserve.”

Meet our Management Team

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.

BOOK RENTAL APPRAISAL

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.

BOOK APPRAISAL

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