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Gisborne Property Pulse factsheet – May 2011

Posted on: June 16th, 2011 | Filed in Gisborne Property Market Factsheet

The Gisborne district property pulse factsheet for May 2011 is published using data from and REINZ (Real Estate Institute of NZ).

Property sales across the Gisborne region at 42 in the month rose on a seasonally adjusted basis in May and were up a significant 24% as compared to a year ago. The inventory of unsold houses rose again to 64 weeks to remain well above the long-term average of 42 weeks of equivalent sales.

Median sales price of property sold during the month in Gisborne at $240,000 was down 6% as compared to a year ago although it was up from the prior month. The asking price expectation of new listings in the Gisborne region was down 2% as compared to a year ago at $330,140.

The level of new listings coming onto the market in May at 84 was significantly down from April and up just 1% as compared to a year ago.



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