Archive for the 'regional' Category
Ryman Healthcare’s new retirement village will have a huge impact on the local housing market. Not only will the $60m project inject welcome cash into the local economy, but it will also create a flow on effect in the housing sector as many folk move houses.
Unlike a new factory or processing plant, Ryman’s end product creates new housing opportunities which means all those people who will buy a retirement villa at Ryman’s centre will end up selling their existing homes and so a chain reaction begins.
This will have an impact on future market prices. Gisborne’s population is static and has been so for many years. So if there is not an influx of new people coming to Gisborne, there will be a strong supply of houses for sale in Gisborne but not an increase in demand. The law of economics of how market prices are driven in part by the supply and demand, will come into play and we may see a further easing of prices. But if on the other hand the projected population growth for the region kicks in, then Ryman’s new centre may be the answer for a projected shortfall in housing stock. It will be interesting to see it all unfolds.
Either way Ryman’s new retirement village is a welcome project for the region.
April 01 2010 | regional | 2 Comments »
a leaky home - a nightmare
When making the decision about purchasing the right home, it is not unreasonable to be concerned if the property is a leaky home or not. In Gisborne the chances of it being a leaky home are low. The Weathertightness Homes Reolution Service (WHRS) has only had one of the 4,000 property cases from Gisborne. No doubt there have been more cases of new homes requiring the builder to go back and fix the odd problem, but the leaky homes saga goes way beyond that. Back in the 1990′s some methods of constructing residential homes changed. Problems did not start appearing until many years later. Now they are all too apparent. Watch the video leaky homes in Gisborne about how Gisborne has been affected by leaky homes. Also visit the website houses for sale in Gisborne for more articles about leaky homes in Gisborne.
March 27 2010 | regional | No Comments »
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 »
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 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 »
Total residential sales in Gisborne posted a 41% increase in the number of reported sales for the second quarter over the first quarter 2009. continue reading »
July 20 2009 | regional | No Comments »
Sales are up with 64 residential property sales being reported for May. The last time we saw 60 plus sales was in November 2007. continue reading »
June 06 2009 | regional | No Comments »