Gisborne house sales still on steady rise

Median house price rises $27,000 from same time last year.

Median house price rises $27,000 from same time last year.

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GISBORNE house prices continue to rise steadily, with help from a big leap in the number of monthly sales.

Latest figures from the Real Estate Institute show a 31 percent rise in house sales.

There were 59 sales last month, taking the region’s median price to $262,000, which is $27,000 up from the same time last year.

REINZ regional director Philip Searle points out that properties are now taking just 32 days to sell, compared with 41 days last year.

“Of significant interest is the number of properties sold each month by licensed real estate agents.

“After the global financial crisis, sales in Gisborne dropped to low to mid 20s each month, whereas for most of this year the monthly average was just on 62 sales.

“Local agents are seeing a significant number of outside buyers looking for property. While a lot are from Auckland, buyers from other centres are also in the market. There are a mix of buyer categories, some moving into the city to live and others purchasing as an investment.”

Mr Searle said while purchasing after viewing on the internet was fairly common, there was still a lot of buyer inquiry as a result of marketing by agents in the Property Guide and from signage on property.

“Agents are seeing some excellent prices achieved for properties that are presented well, are located in popular areas and marketed well.

“In contrast, we do see some properties that stick in the market when vendors have been overly optimistic with their price expectations.

“Overall, the residential market in Gisborne is in good heart, first-home buyers are getting into their homes, people are trading up, people are selling and moving to retirement villages, some are downsizing and, of course, we have investors.”

GISBORNE house prices continue to rise steadily, with help from a big leap in the number of monthly sales.

Latest figures from the Real Estate Institute show a 31 percent rise in house sales.

There were 59 sales last month, taking the region’s median price to $262,000, which is $27,000 up from the same time last year.

REINZ regional director Philip Searle points out that properties are now taking just 32 days to sell, compared with 41 days last year.

“Of significant interest is the number of properties sold each month by licensed real estate agents.

“After the global financial crisis, sales in Gisborne dropped to low to mid 20s each month, whereas for most of this year the monthly average was just on 62 sales.

“Local agents are seeing a significant number of outside buyers looking for property. While a lot are from Auckland, buyers from other centres are also in the market. There are a mix of buyer categories, some moving into the city to live and others purchasing as an investment.”

Mr Searle said while purchasing after viewing on the internet was fairly common, there was still a lot of buyer inquiry as a result of marketing by agents in the Property Guide and from signage on property.

“Agents are seeing some excellent prices achieved for properties that are presented well, are located in popular areas and marketed well.

“In contrast, we do see some properties that stick in the market when vendors have been overly optimistic with their price expectations.

“Overall, the residential market in Gisborne is in good heart, first-home buyers are getting into their homes, people are trading up, people are selling and moving to retirement villages, some are downsizing and, of course, we have investors.”

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