After a challenging year in 2009, thinking that we were out the recession only to find that sales volumes dipped in the third quarter, we finished on a high note.December sales activity in the Gisborne residential property market finished above the anticipated level. While October posted 42 sales and November only 34, December bounced back with 48 reported houses being sold in Gisborne. That pushed the 4th quarter up to a total of 124 sales, better than the 115 of the previous quarter and coming in behind the 2009 2nd quarter of 157 sales. Median house prices for the quarter rose to $261,000. So, it looks like the market is not dropping but is in fact showing a slight increase in values. Next report: year end sales – how does it compare with previos years? Have market values risen?
four year sales comparisons - medians and sales volume
January 27 2010 | regional | No Comments »
It looks like Gisborne is one of the best places in New Zealand to buy real estate property in right now. continue reading »
November 10 2009 | regional | No Comments »
The number of confirmed sales in Gisborne city for the September quarter was down on the June quarter by 26%. continue reading »
October 21 2009 | regional | No Comments »
It has been a busy week for the Walker real estate sales team in Gisborne as several houses that were for sale have now sold. The lifestyle property at 31 Somerton Road sold after two interested buyers placed offers on the property. It sold close to the asking price of $519,000. An investment property 35 Oak Street sold to an investor. The property had two houses for sale on one title and sold for close to the asking price of $315,000. Another house for sale just out of Gisborne City, 212 Valley Road sold for close to the asking price of $415,000. It’s great to see buyers taking advantage of the low interest rates and getting some great homes for good prices.
October 10 2009 | company | No Comments »
The early indications are that the third quarter sales for residential property in Gisborne (July through to September) will be down on the previous quarter. I am predicting it will be down by more than 25%. There were definite signs of market recovery during April through to June as more sales were transacted. It looked as though we had turned the corner and confidence was up, but with September looking like posting not much more than 30 sales, the total for the quarter is likely to be 100 – 110 sales in total. Final figures should be available next week. I welcome your comments as to why you think this is the case.
October 05 2009 | regional | 1 Comment »
Medians are often quoted because they are more likely to be in line with current market values than averages. Medians give a middle of the road snapshot. Averages can be greatly distorted by extremely high or low values. For example: five sales at 150k, 200, 225k 250k and 600k produce and average of 285k. The median of these sales is 225k (two sales either side). Medians discount the high and low values of either end of the data. Of course, the more data gathered, the greater accuracy of the median as a valid benchmark.
September 29 2009 | regional | 2 Comments »
The two properties offered under the hammer on Wednesdays on site auctions had different results.
124A Stout Street, Whataupoko (RV $380,000) was passed in at $350,000. While there was interest in the property during the auction, an offer made post auction was not accepted. It now has an asking price of $395,000.
26 Jackson Street, Kaiti (RV $178,000) was sold under the hammer for $200,000. Three bidders placed 30 bids in total before the property was sold. The owners were delighted with the outcome.
September 25 2009 | company | 1 Comment »
This Wednesday 23 September Walker Real Estate offers two properties for sale by public auction. Both are to be held on site. At 12.30pm 124A Stout Street goes up for sale. Built in 1948 and tightly held in the family ever since, the two level bungalow provides 4 bedrooms, double garage and an easy care 776 m2. Set in a sought after location, this offers an opportunity to move into a desirable neighbourhood in Whataupoko.
At 1.30 pm 26 Jackson St an attractive three bedroom 1970s bungalow in Kaiti will be offered for sale. This is an ideal first home or investment property.
September 21 2009 | company | No Comments »
Two properties offered under the hammer on Wednesday’s on site auctions were passed in. There was conditional interest only on 38 Andrew Street, which is now in negotiations. The property was purchased in May 2007 for $128,000. The owners had carried out renovations since purchasing.
35 Oak Street attracted 3 bidders reaching $272,000 and was passed in. A conditional offers was make by another party post auction. Negotiations are still in progress. The property was last purchased in October 2005 for $272,000.
104A Lytton Road was scheduled to be offered for auction on 7 October. The property was sold this week for an undisclosed sum.
September 18 2009 | company | No Comments »
The lack of new listings coming into the market has resulted in lower sales. The number of residential properties sold during August for Gisborne City was down to 33 sales. The median sale price was $280,000. This was due to the small number of sales rather than any significant lift in the market. The average days on market were back up to 50 days. This indicates older stock has been cleared out. For those folk who have been thinking about selling, now is an excellent time to enter the market, as there is less competition between sellers for buyers.
Click here to view actual sales
source: REINZ statistics – unconditional sales for August – Gisborne City
September 15 2009 | regional | 2 Comments »
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