Coastal Properties Lose Value – Gisborne OK
The recent report in the New Zealand Herald highlighted the falling values of many coastal properties but in Gisborne I don’t think it is that bad. The coastal properties that are a holiday getaway are usually within an easy driving distance from larger population centres. An hour or two from home or in the worst case [...]
Watching Values Being Washed Away
You have to feel for the folk at Haumoana, Hawkes Bay (3 hours drive south of Gisborne). This week’s high seas have really taken a toll on their properties, literally washing them away. It seems that whenever there is a high sea running, this area really takes a hammering. I wonder how many other coastal [...]
Multiplex fund sheds value
One of New Zealand’s largest real estate funds has shed value. The Sydney-managed Multiplex New Zealand Property Fund owned property valued at $701.9 million in June but this week it declared that had now shrunk to $655.4 million. Leon Boyatzis, fund manager of Brookfield Multiplex in Australia, said a $21 million Wiri property had been [...]
How is the property market in Gisborne, NZ right now?
I think the best way to describe the residential housing market in Gisborne NZ is to say that the recovery is fragile.
