Half yearly report – low sales

With reported June sales now coming through, the six monthly sales activity for residential property in Gisborne City show we are still in a low activity phase of the cycle. Low sales volumes, but stable prices. That is the picture. Buyers are often slow to commit, showing no apparent urgency to take advantage of the good buying opportunities that exist. For sellers who have good reasons to sell, their properties are getting sold, as owners meet the market. While national market values have risen, local prices are  close to what they were 12 months ago, having recovered from the dip in 2008 and returning to the peak of early 2007.