Property sales in Gisborne fell for the 3rd straight month on a seasonally adjusted basis with 29 in May, as compared to 32 in April and 42 in March. This past 3 month period shows a significant 28% year-on-year decline in sales.
Inventory of houses on the market fell in May from the peak of 53 in April. The May inventory of 47 weeks of equivalent sales is edging closer to the long term average of 43 weeks. This would indicate that the market is close to being a balance between buyers and sellers.
Property prices for the Gisborne are included in the broad Wiakato / Bay of Plenty regional median property price, in May this price was $307,000 which was down 1.6% on May 2009 price.
The Gisborne region Property market pulse factsheet for June 2010 is available as a download pdf document
