The right time to buy
A recent survey conducted on the affordability of buying a home concluded that now is a great time to buy property. While it didn’t mention Gisborne specifically (due to our small size, most national surveys don’t) our region offers excellent opportunities to those looking to get into the housing market. Below is the article from [...]
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 [...]
Budget released – investors can now plan ahead
Now that the long awaited Budget has been released, investors can plan ahead with some degree of confidence. For some investors, they stand to be much worse off, but for the “Mum and Dad” investors who have a rental property or two, and are not heavily geared, then owning investment property remains a good wealth [...]
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. [...]
Increase in Building Consents A Positive Sign
The increase in the number of building consents issued for the latest four month period is a positive sign of economic growth for the region. While the bulk of the consents have been industrial and commercial, the flow on effect for the local economy is welcomed. DESPITE a slowdown in the final four months of [...]
Has the “normal” market conditions changed? I think so …
We now have a new “normal” in the money supply which effects the housing market. The market for houses for sale in Gisborne is directly effected too, with lower sales volumes, less investors and stable prices (as opposed to the run away market we experience in 2005 – 2007. Banks are lending less, funding more [...]
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.
What is my house worth?
When I am talking with owners who have a house for sale, this is a question I am often asked and the answer that I’d like to say most often is “not as much as you think.” It’s always the same. When we are selling, we tend to over value property, but when we are [...]
Lowest Month of Reported Sales
What happened during January? Not a lot actually, if the reported residential sales are accurate. January 2010 saw the lowest number of house sales in Gisborne NZ for quite some time. Why? I have a few thoughts on the matter. Firstly the market we are currently in here in Gisborne is not running hot. Sales [...]
