Nelson’s house prices increased 8 per cent

Press, 11 June 1987, Page 3

Nelson’s house prices increased 8 per cent

Nelson and Marlborough have been buffered from the worst effects of the rural sector downturn, thanks to their broader economic bases, the regional development review suggested.

The review noted a relative buoyancy in the housing market, especially in Nelson, where prices increased 8.39 per cent last year. The value of residential building permits had declined 1 but by no more than the. national average.

Unemployment in both regions was relatively

high, peaking in November at 7.5 per cent in Nelson and 7 per cent in Marlborough. The review anticipated that seasonal work would reduce these figures over summer. During the FebruaryNovember period the number of people in fulltime jobs dropped 500 (—4.6 per cent) in Nelson and 1000 (—3.5 per cent) in Marlborough.

The review said there had been a considerable loss of employment in the agricultural sector, especially in Marlborough because of the sheepfanning

decline. The closing of the An-chor-Dorman workshops in Nelson had left 50 people redundant.

Among the positive employment signs for the region was the purchase of a factory freezer trawler by Sealord Products, Ltd, which would create 50 jobs. The review also suggested unemployment could be reduced by salmon farming, tourism centred on the sunken Mikhail Lermontov, and increased sailing by the Coox Strait .ferries.