Monthly Sales Hit Low Point
House sellers and real estate agents found it tough going last month with only 27 houses sold in Gisborne City in July 2010. This level of sales is extremely low and comes off the first six months averaging only 35 sales a month. The monthly median sale price continues to hover around the $250,000 mark [...]
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 [...]
Market Update – May sales low
May confirmed another month of low house sales in Gisborne City. The 32 residential sales that were recorded for May are similar to previous months which have averaged 35 sales for each of the five months this year. These low volumes signal we are continuing to be in a buyer’s phase of the real estate [...]
NZ Herald quarterly report
Today the NZ Herald published a 27 page supplementary property report. Interestingly while it features most of the north island cities, there is no mention of Gisborne. Even Rotorua and Hastings are cited. I wonder why we are forgotten? However, at least QV have included us in their statistical report. Tomorrow I shall post a [...]
First Quarter Sales Gisborne
Sales volume is down for the first quarter and sale prices against valuation have varied considerably. Published here are the house and land sales for the first three months of 2010 for Gisborne City. For privacy reasons, the actual street addresses have not been shown. If you would like more information about actual sales in [...]
Slow start to first quarter
Despite a strong finish in residential house sales in 2009, the first quarter’s activity for 2010 shows a weakening property market, with fewer sales and a slight drop in median house sale prices in Gisborne. Just when there was signs of a strengthening recovery, there are now signs of easing confidence. Prices however are steady. [...]
Beachfront prices ease
Demand for beachfront houses at Wainui Beach, Gisborne is currently at low levels, if the two most recent sales are a true indication. Recently a property on Wairere Road sold for under $700,000. The owner paid $1,400,000 less than four years ago. The property had been on the market for several months and failed to [...]
First Quarter House Sales Drop
The first three months of 2010 saw a drop in the number of house sales in Gisborne NZ. A little over 100 house sales were reported for the first quarter in the city, thats a drop of 18% on the previous quarter. Investors are holding back on buying low end properties which resulted in the [...]
How does the Gisborne property market differ from the national market?
The Gisborne property market is different from the national property market. When media reports are posted about what is happening in real estate in New Zealand, it is often assumed that the findings apply to Gisborne. View this week’s video to see why a closer look is needed.
Top End Properties Are Selling Well
Houses in the the top end of the local market appear to be selling well. The February sales data received to date, shows there were 7 sales over $500,000 – the same number as the previous 3 month period combined. This may be cold comfort for those sellers who have yet to sell. But it [...]
