You will often see members of our team out and about supporting, coaching or helping clubs, schools and charity events. From initiatives as diverse as the Nelson School of Music building restoration to the Stoke Rugby Club, Nelson Netball, Havelock Mussel Festival and the annual Nelson Tasman Hospice Memorial Golf Event, Summit is right there.
“We’re unbelievably proud to be able to contribute to making our local communities a great place to live.”
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:
Nelson median price decreased 6.7% to $695,000Marlborough median price decreased 2.3% to $635,000Tasman median price decreased 8.1% to $781,000Local 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.
For property owners considering their next move, understanding where your property sits in today’s market is more important than ever.
Get in touch for a free, no-obligation appraisal with one of our local property experts.
Market Reports
Summit recently celebrated its 34th Annual Summit Awards alongside the annual Summit Conference at the Rutherford Hotel, bringing together staff from across Nelson, Tasman, and Marlborough for a memorable evening of recognition and connection.
The theme running throughout both events focused on the idea that excellence in real estate does not happen by accident. It is built through daily habits, intentional action, teamwork, and a commitment to continually improving the service we provide to our clients and communities.
The evening recognised outstanding achievements across sales, property management, administration, and support services, while also celebrating long-serving team members whose dedication has helped shape Summit over many years.
A huge congratulations to all award winners and long service recipients. Your consistency, professionalism, and commitment to continual improvement truly represent the values that make Summit what it is today.
Summit would also like to acknowledge the incredible efforts of our sales consultants, property managers, realty services teams, mortgage and insurance advisers, and administration staff across the region. Our success is built on strong teamwork and the depth of local experience we are fortunate to have throughout the organisation. Having experienced professionals and mentors available locally allows our teams to collaborate, share knowledge, and ultimately achieve the best possible outcomes for our clients.
As a locally owned and independent business, Summit is proud that choosing Summit means supporting local people, local businesses, and reinvesting directly back into the communities we all call home.
2026 Summit Award WinnersAWARDS CATEGORY
RECIPIENT(S)
10 Years’ Service Awards
Emma Barton
Tori Nalder
25 Years’ Service Awards
Diane Taylor
Dwayne Lohmann
Summit Rookies
Brian Sangster & Steph Monopoli
Runner Up Property Manager
Avei Douglas
Top Property Manager of the Year
Fiona Harris
Top Property Management Office
Marlborough Property Management Team
Sales Top Office
Richmond Office
Real Estate Excellence Award
Emma McCashin
Summit Champions 2025/2026
1st Glyn Delany
2nd Emma McCashin
3rd Michelle Westrupp
4th Callum Gilchrist
5th Liam Boshoff
6th Dwayne Lohmann
Excellence, experience, and community - that’s the Summit difference.
Find out more on the People who make the Difference
New data from realestate.co.nz shows weekly average rents rose by 7.8% in Nelson and Bays, with new listing and stock also seeing an increase. Rents in Nelson have hit a record high, with demand continuing to push prices up despite a broader easing across the country.
New data from realestate.co.nz shows the average weekly rent in Nelson and Bays rose to $617 in April, up 7.8% from $573 a year earlier.
The increase highlights ongoing pressure in the local rental market, with Nelson one of just two regions, alongside Waikato, to record a new average rent high.
Realestate.co.nz spokesperson Vanessa Williams said the figures reflected strong demand in the region.
“While many parts of the country are seeing some relief, Nelson continues to show strong demand for rental housing,” she said.
Local rental supply has also lifted slightly. In Nelson, total rental stock rose 7% in April compared to a year earlier, increasing from 84 to 90 listings, and was up 15% on March.
New listings increased 13.6% year-on-year, from 59 to 67, although they were down 19.3% compared to the previous month.
Williams said the increase was “technically defying the laws of supply and demand” given a healthy number of homes were coming onto the market.
“When you look at the types of properties coming on, there are some really quite nice homes, and I wonder if that’s tipped the average over the edge.”
She said rents had been trending upwards for some time, and it was always important to watch for a trend.
Realestate.co.nz spokesperson Vanessa Williams said the increase was “technically defying the laws of supply and demand”.
“This hasn’t come out of nowhere,” she said. “I wouldn’t say it’s a one-off. It’s been building over the year.”
She said the increase could also reflect changing behaviour in the market.
“There may be a combination of people continuing to see value in the rental market, or perhaps selling homes and moving into rentals, which could also be pushing up the average.”
Despite the increase in available properties, supply remains relatively tight, with demand continuing to support higher prices.
Nationally, rents had eased slightly, with the average weekly rent falling 1.4% to $631 — almost $30 below the peak recorded in May 2024.
Williams said the shifting figures showed how quickly conditions could change.
“For renters, it’s a noticeable change from the pressure we were seeing at the peak, but it also shows how quickly market conditions can move,” she said.
She said demand for quality rental housing remained strong, even in regions where prices had softened.
Nina Hindmarsh • Reporter [email protected]
May 7, 2026
Photo credit: Braden Fastier / Nelson Mail
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