Gisborne house prices ‘averaging $260,000’

File picture by Louis McKenna

THE region’s housing market remains in steady, with latest Real Estate Institute figures showing house prices averaging $260,000.

REINZ regional director Philip Searle said the median price across the region last month rose $16,000 (up seven percent) compared to June 2016.

“Activity in the Gisborne region remains solid, with inventory levels low compared to recent history and an upward trend in the median price.

“Compared to May, the median price fell $36,000 (down 12 percent).

“On a seasonally-adjusted basis, the median price fell five percent compared to May, indicating that the decline in the median price was larger than would be expected for June.

“Sales volume for the Gisborne region was steady at 57 sales.”

On a seasonally-adjusted basis, sales fell by four percent from the previous month.

Mr Searle said that indicated that the decline in sales was in line with expectations for this time of year, while the number of days to sell eased by seven days in June, from 32 days in May to 39 days in June.

“Compared to June 2016, the number of days to sell eased by 10 days.

“Over the past 10 years, the number of days to sell in June across the region has averaged 47 days.

“There were 14 weeks of supply across the region in June, a rise of one day over the past 12 months.”

THE region’s housing market remains in steady, with latest Real Estate Institute figures showing house prices averaging $260,000.

REINZ regional director Philip Searle said the median price across the region last month rose $16,000 (up seven percent) compared to June 2016.

“Activity in the Gisborne region remains solid, with inventory levels low compared to recent history and an upward trend in the median price.

“Compared to May, the median price fell $36,000 (down 12 percent).

“On a seasonally-adjusted basis, the median price fell five percent compared to May, indicating that the decline in the median price was larger than would be expected for June.

“Sales volume for the Gisborne region was steady at 57 sales.”

On a seasonally-adjusted basis, sales fell by four percent from the previous month.

Mr Searle said that indicated that the decline in sales was in line with expectations for this time of year, while the number of days to sell eased by seven days in June, from 32 days in May to 39 days in June.

“Compared to June 2016, the number of days to sell eased by 10 days.

“Over the past 10 years, the number of days to sell in June across the region has averaged 47 days.

“There were 14 weeks of supply across the region in June, a rise of one day over the past 12 months.”

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