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.

Nelson & Bays Reach Record Rental High

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.

Marlborough Adjusts to Market Conditions

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.

Positive Signs for Local Property Investors

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.

Local Property Management Insight

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.

Nelson: Median price rose 4.5% to $744,000Marlborough: Median price increased 2.0% to $663,000Tasman: Median price climbed 7.9% to $847,000

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

While prices have remained relatively stable, the number of sales has declined compared with February last year.Across Nelson, Tasman, and Marlborough there were 192 sales in February, down from 250 sales in February 2025.Properties are taking slightly longer to sellThe median days to sell in Nelson, Tasman, and Marlborough is currently 54 days, which is higher than the 10-year February average of 45 days. This reflects a market where buyers are taking a more considered approach.

What This Means for Buyers and Sellers

Overall, the local property market remains stable and balanced.

Buyers currently have more choice and negotiating power.Sellers who price their homes realistically and present them well are still achieving strong results.With listing numbers continuing to grow, market activity will be closely monitored in the months ahead.

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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Source: REINZ - New Zealand Property Report - February 2026