There's good news and bad news for those wanting to buy a property in Marlborough - the average price is sitting below $500,000 but the market is competitive. Real Estate Institute New Zealand chief executive Bindi Norwell said the lack of listings in the Marlborough region had resulted in multi-offers and pushed auctions forward, which is likely to have pushed up the average house price in the region. "Across New Zealand there's been an increase in about 8.2 per cent in the median house price," Lee said. Maksym Yemelyanov/123RF The average price for a property in Marlborough sits at $445,500, below the country average which has just passed $600,000 for the first time. "There's still a shortage of good quality rental stock - so if you get a good property, you're virtually guaranteed to find a good quality tennant."

Source: Stuff November 17, 2019 02:27 UTC