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The latest REINZ figures for November 2025 show a mixed but steady picture across the Top of the South, with price growth continuing in Nelson and Marlborough, while Tasman recorded a year-on-year softening.

While price growth remains strong in Nelson and Marlborough, the Tasman market reflects a more cautious buyer response, likely influenced by broader market conditions and increased choice.

First home buyers and owner-occupiers were the most active groups across the region in November. Investor enquiry remained lower, reflecting continued caution around yields and lending conditions.

Vendors were largely realistic with their pricing expectations, which has helped maintain solid engagement for well-presented homes. Open home attendance was strongest for new listings, with good momentum often carrying through into the second and third weeks of a campaign when the property met buyer expectations.

Auctions are becoming a more commonly used sales method across the region. However, results under the hammer have been mixed, highlighting the importance of accurate pricing, presentation, and buyer competition.

Overall market sentiment continues to be influenced by:

Sales volumes were down 10.9% compared to October, reinforcing the measured pace of the market.

Despite the current lack of urgency, there is cautious optimism among local salespeople. The summer months are expected to bring an uplift in activity, particularly as overseas visitors return following the Christmas period — a trend that traditionally supports buyer confidence in the Top of the South.

“First home buyers and owner-occupiers were the most active buyer groups across the region… broader choice in available properties continues to contribute to a lack of urgency.”
– Lizzy Ryley, REINZ Chief Executive

For sellers, realistic pricing and strong presentation remain key to generating competition. For buyers, the current market offers choice and time — but well-positioned properties continue to attract strong interest.

If you’re considering a move or would like a tailored view of how these figures apply to your property, the Summit team is here to help with local insight and honest advice.

Talk to a Local Summit Sales & Marketing Consultant

Article excerpt from the Nelson Mail.  Nina Hindmarsh • Reporter. Image supplied by Christel Yardley • Waikato Times
 
Recent Tenancy Tribunal decisions in Tākaka and Motueka have highlighted a major issue for landlords: a mismatch between insurance meth contamination standards and tenancy law. 

At present, most insurers still require remediation if meth residue exceeds 1.5 micrograms per 100cm², a standard introduced in 2017. However, the Tenancy Tribunal, Kāinga Ora and the Real Estate Authority apply a much higher threshold of 15 micrograms, based on scientific advice from Sir Peter Gluckman. 

This gap has real financial consequences. In two Tasman cases, landlords were required by insurers to clean properties and pay $2,500 excesses, but the Tribunal ruled tenants were not liable, as the properties were not legally considered contaminated under tenancy law. 

In one Motueka case managed by Summit Property Management, initial testing suggested elevated levels, but room-by-room testing showed no area exceeded the legal 15mcg limit. Despite this, the landlord was still unable to recover the insurance excess. 

The result? Confusion, unnecessary remediation, and landlords left out of pocket. 

General manager Stewart Henry said the split standards were creating confusion. 

“Owners look at that and think, ‘it’s contamination’, because that’s what the insurance company and tester are telling them,” he said. 

Henry said low-level residue could often be dealt with using simple cleaning. 

“But some owners are obviously thinking, well, it’s a contamination because it’s above the 1.5 [micrograms] which is what the meth tester and the insurance company are telling us.” 

He said the uncertainty had made property management “a landmine”. 

“Once the new rules come in, it’ll mean far fewer unnecessary claims and far less confusion. 

The Government has confirmed new regulations coming in 2026, which will: 

Until then, landlords are navigating a tricky landscape where insurance requirements and legal obligations don’t always align. 

Low-level meth residue can often be addressed through targeted cleaning, not full remediation. Professional property management is critical to: 

At Summit Property Management, we stay across regulatory changes so our landlords don’t have to—and we’ll be ready well before the new rules take effect. 

 
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