Auction Popularity Soars
Selling homes by auction is becoming more widely acceptable. In a recent article in the NZ Herald, the trend is for more sellers to offer their property for sale by way of public auction. In a sellers market (when it favours the sellers more than the buyers) it is easy to understand that the competition [...]
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 [...]
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 [...]
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 [...]
New RV’s out soon
The new RV’s (Rating Valuations) for Gisborne are due out on 10 December 2011. Effective from September 2011, they are meant to represent a snapshot of property values. RV’s replaced the old GV’s sometime ago. However RV’s do not purport to be an accurate assessment of market value. Land Mass Technologies (the company who did [...]
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 [...]
Great auction at Wainui
46B Moana Road, Gisborne sold under the hammer today, well above the expected market value. It sold for $481,000. Three buyers were after the funky beach house on the Pacific Highway at Wainui Beach. Set back from the road with views overlooking the headlands at both ends of the beach, the property offered the new [...]
