Market Trends – the big picture
The market trend for house prices in Gisborne is they are falling, but not by much. Sales over the past 11 years show that the market peaked in 2007 and since then prices have remained slightly below that level. Often the monthly results can show a spike, however due to the small amount of monthly [...]
New RV’s accurate?
The new Rating Valuations (2011) are out for residential property in Gisborne. They are back dated 1 July 2011. Despite the clear disclaimers from the Council and Land Mass Technologies that Rating Valuations are not accurate market valuations, we still tend to reference our property against its RV. However upon closer inspection, it is clear [...]
Property prices 2011
Gisborne’s property values dropped by 2.8% during 2011. Nationally average values rose by 2.4%. Those increases were in the main centres and in some provincial cities. Both Tauranga and Hamilton’s values were flat. Gisborne was not alone in falling values. For the full report visit the QV website. (Quotable Value New Zealand). QV gathers its data from completed [...]
Finger on the pulse
As the year comes to an end, it seems there is an increase in sales activity in the residential property market in Gisborne. A few agencies are reporting more sales, however the auction clearance rates are showing a mixed bag of results. LJ Hooker Gisborne has posted 11 residential sales for December, following on from [...]
Sales with new RV’s applied
It’s interesting to see how the new rating valuations compare against the most recent sales. The result; still all over the place really. The variation for October and November sales still swings from 58% below to 26% above. But that’s to be expected really. After all rating valuations are not made for the purpose of [...]
November median picks up
The median sale price for a residential property in Gisborne was $245,000 (November 2011). The was up on previous months and was more a reflection on the greater number of higher end sales rather than a lift in market values. Sales volumes were low (29 sales with no sections sold) and average days on market [...]
Steady November Sales
Sales released for November 2011 were consistent with previous months of 2011. There were 29 confirmed residential property sales in Gisborne City. No section sales were reported this month. There were 11 sales under $200,000 and there were 4 sales above $500,000. This level of high end sales is more than previous months. It’s pleasing [...]
26 House Sales in October
There were 26 residential properties sold in Gisborne City during October 2011. There were also 4 residential sections sold. This list of the actual sales can be found here. In the lower end of the market there were some good buying opportunities for investors looking for better returns. A few years ago you would have [...]
Gisborne Residential Property Report
An observation on the local market by Neil Walker – Principal L J Hooker Gisborne Number of Sales The number of properties that have sold is down from the peak of 2004 – 2005 with half of the number of annual sales. Over the past 18 months there have been between 90 – 110 sales per [...]
