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 [...]
Big move in section sales
While houses sales in Gisborne for August were pretty much in line with previous months, there was a big increase in the number of sections sold. 33 residential homes sold (31 houses and 2 apartments) and 11 sections sold. The Sponge Bay subdivision posted 4 sales and the others were spread across the city. As [...]
23 Sales in July
There were only 23 residential homes sold in Gisborne during July 2011. That’s well down on the recent 30 to 35 of previous months. The highest sale price was $395,000 for a 4 bedroom home in Te Hapara. Normally we would expect to see a lot more higher sale prices than this. The lowest sale [...]
Quarterly results – good insights
Sales over the second quarter (April – June) were at the same number of the previous five quarters, around the 100 sales mark. Compared to the peak during 2006 / 2007 of double that, it seems that these levels of activity is the new norm. Median sale prices continue to be around the low to [...]
June sales low again
Despite a lift in sales volume during May, it was another month of low sales as June posts 30 sales for the month. Those were made up of 27 house sales, 1 apartment, 1 block of units and 1 section. The most affordable was in Kaiti ($95,000) and the most expensive was a property in Riverside [...]
