How are property values holding up?
While some parts of NZ are seeing real growth in property values, Gisborne like many smaller provincial cities are not seeing the flow on effect. So why is this? Three reasons stand out as contributing factors. Static population growth, a slump in economic performance and the onflow effect in terms of spending within the district are [...]
Mortgagee sale – investment opportunity
Apartment 119 at Portside Hotel Gisborne is being offered for sale under mortgagee instructions. The ground floor studio apartment is leased to Portside Hotel and is used by guests on a short stay basis. Located close to the centre of Gisborne City and near Waikanae Beach, Portside Hotel enjoys good patronage. Details of the sale can [...]
Market recovery on the way
The sales activity for the first quarter 2012 show a 15% increase in the number of houses sold in Gisborne. After a sustained period of fewer sales during the past 18 months, the indicators are pointing towards recovery. While the number of sales are well off the high volumes that we saw 5 to 7 [...]
Strong Lift in March Sales
There was a significant lift in the number of houses sold in Gisborne during March 2012, up to 46 sales. This is the highest level of monthly sales activity since 2 years ago and it was not just a recovery spike following on from a previously weaker month. Sales activity is up. More houses are [...]
Auction Results 21 & 22 March
Six properties were offered for sale by auction this week at LJ Hooker Gisborne. All six were residential representing a cross section of available homes. There was a 50% success rate under the hammer. 18 Ruru Avenue sold for $265,300 after four bidders sought to own the low maintenance 3 bedroom home in Lytton West. [...]
Lift in February Sales
February posted a 37% increase in the number of sales over the previous month. There were 10 mores houses sold in Gisborne bringing the total to 37 residential homes sold and 2 section sales (both in Sponge Bay). The highest recorded sale was at Wainui Beach selling for $927,000 and the lowest was a home [...]
Good Result in Grant Road
53 Grant Road in Whataupoko, Gisborne sold under the hammer after a handful of bidders showed their intent to own the property. The 1960′s split level four bedroom home was strongly contested for, before the auction hammer felt on a $443,000 final bid. Over 50 parties inspected the property during the four week marketing campaign. “The response has [...]
3 out of 4 auctions sold
It was a good day for sales at LJ Hooker Gisborne when 3 out of 4 residential properties sold under the hammer. 5 Elsdon Best Street, Riverdale was offered for sale under mortgagee instructions. The property drew a positive response during the marketing programme with over 30 buyer inspections. It came down to 3 active [...]
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 [...]
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 [...]
