The latest REINZ Monthly Property Report, shows the property market across Nelson, Tasman and Marlborough continues to track steadily, with buyer caution and longer selling periods remaining key themes.
Data compared to April 2025 highlights a market that remains active, particularly among first-home buyers, while higher-end market activity has softened due to reduced movement in the lower to mid-range sectors.
Across the region, the median days to sell increased to 39 days, sitting slightly above the 10-year April average of 37 days.
Median prices across the Top of the South saw year-on-year decreases:
Local salespeople reporting that most vendors entered the market with realistic expectations around pricing and competition. Open home attendance remained steady, driven largely by local owner-occupiers and first-home buyers.
Auction activity produced mixed results; however, properties not sold under the hammer were often placed under conditional contract shortly afterwards, showing continued buyer engagement despite more cautious decision-making.
Market sentiment continues to be influenced by longer days to sell, fewer listings and ongoing discussion around interest rates. As the cooler months approach and election year uncertainty builds, industry professionals are not anticipating any significant uplift in activity in the short term.
For buyers, current conditions continue to provide more choice and time to make informed decisions. For sellers, presentation, pricing and strong marketing remain critical in achieving successful outcomes in today’s market.
Source: REINZ Monthly Property Report, Published May 2026. Data compared to April 2025.
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Market Reports