Houses For Sale Gisborne

The sentiment in Gisborne is certainly improving…..

George Searle — Fri, 12 Jun 2015 04:16:51 +0000

With investors continuing to show a desire to increase their portfolios! 49 sales in April signals a consistent increase in volumes, with the challenge over the next few months for buyers is likely to be finding to property to buy! Like to know more? See here for the April Monthly Snapshot.

Median drops again in January

George Searle — Thu, 19 Feb 2015 00:17:55 +0000

January followed usual seasonal trends with 27 sales for the month. The median dropped again in January. With the low sales volumes, this is not a concern for the market, but rather a reflection on what types of properties were sold.

Like to know more? Click here for the January Snapshot.

Ps. Did you know we send out a monthly newsletter? Click here to subscribe.

Kind regards,

George Searle, LJ Hooker Gisborne

What were the highlights in December 2014?

George Searle — Mon, 09 Feb 2015 01:25:43 +0000

Whataupoko takes highest sale honours, 2015 is looking very positive and knocking on 10 million of residential sales in December!

See here for more of the monthly snapshot for December.

Did you know we send out a monthly newsletter? See here for our most recent newsletter. You can subscribe to our newsletter from the front page of this website.

George Searle, LJ Hooker Gisborne

Whataupoko dominates sales in November!

George Searle — Fri, 19 Dec 2014 03:20:54 +0000

An increase in residential dwellings sales in November compared to October, median price dropped, and Whataupoko dominating the sales with 1 in 3 being in the suburb. See more of the monthly snapshot here.

As the Christmas season for 2014 quickly approaches us, on behalf of the team at LJ Hooker Gisborne I would like to wish you all a safe and happy Christmas Season, and all the very best for 2015.

George Searle, LJ Hooker Gisborne

Median sale price hits all time high

George Searle — Wed, 26 Nov 2014 02:02:05 +0000

The high number of top end sales during October 2014 saw the median sale price spike to $290,500. That’s nearly $50,000 above previous months. It’s actually the highest ever recorded median price. But hold on, don’t get excited, property values haven’t lifted to that level. The new rating valuations that have just come out would also support that the local property market remains flat.

The highest recorded sale was a beach front property at Wainui Beach which sold for $900,000. At the other end a 3 bedroom home in Kaiti sold for $72,500. See the full snap shot here.

It’s time for me to say goodbye

After 5 years of writing this blog I’m leaving Gisborne and heading to the Bay of Plenty. But don’t worry the team at LJ Hooker intend to carry on with regular updates on the local Real Estate market. You could expect the next post to come from George Searle Principal of LJ Hooker.

Ps. did you know that we send out a monthly newsletter that contains more information than we are able to publish on this website. Here is the most recent newsletter. You can subscribe to this from the front page of this website.

Neil Walker, LJ Hooker Gisborne

September Sales Spring to Life

George Searle — Thu, 30 Oct 2014 02:03:02 +0000

September followed on from a busy August with 52 residential dwellings being sold. The 8 Apartment Mortgagee Sales at Portside Hotel pushed the monthly total up and also contributed to the dropping of the monthly median, down to $214,000.

Days on market was about the same – around the 50+ days on average to sell a property.

There was a record sale for the neighbourhood in Lytton West where a 400m2 home sold for $710,000. On the other end of the affordability scale a retirement unit in Te Hapara sold for $36,000.

As the warmer weather continues and summer approaches, confidence is growing in the local property market. The re-election of National, providing continued stable government coupled with low interest rates are giving buyers and sellers the confidence the market needs.

See the Monthly Snapshot for September here.

posted by Neil Walker, LJ Hooker Gisborne.

Kiwi Saver is a winner

George Searle — Tue, 30 Sep 2014 18:53:29 +0000

If it weren’t for the Kiwi Saver programme there would be fewer sales in the Gisborne property market. In many cases, the Kiwi Saver Scheme is the only source of deposit that first home buyers have access to. After 3 years in the scheme they are eligible to apply to withdraw most of their contribution and put it towards a first home.

The restrictions on Banks’ level of lending is still in place (they are limited to the number of loans they can offer to buyers with less than 20% deposit). However, the Kiwi Saver Scheme coupled with the Welcome Home Loan Scheme makes it possible for first home buyers to buy a home with only 10% deposit which they are able to get from their Kiwi Saver fund.

The relevance of this is the flow on effect. Typically someone who sells a $200,000 property will buy another property of higher value, say $350,000 which then allows that home owner to purchase a property of even higher value, say $500,000. Without that first home buyer, the market comes to a stand still.

We need to encourage young people to contribute to Kiwi Saver, to see the big picture of saving for their first home. By doing so everyone benefits.

posted by Neil Walker LJ Hooker

Great property can out perform the market

George Searle — Sun, 31 Aug 2014 10:00:46 +0000

Sold for $348,000

In this current market where sale prices are often poor in comparison to RV’s, it’s easy to think that it’s all doom and gloom. However, this is not always the case.

Recently 209 Harris Street sold well above expectations. But it was easy to see why. Firstly the $312,000 Rating Valuation didn’t reflect the upgrades the owners had done. Secondly the marketing campaign attracted a lot of attention and drew in 50 inspections. Thirdly the on-site Auction encouraged competitive bidding. The result – a great sale price and a very happy vendor (and purchaser too).

Great property can out perform the market.

posted by Neil Walker LJ Hooker

July Sales Dip

George Searle — Sun, 31 Aug 2014 09:24:13 +0000

July posted slightly less sales than previous months with 33 Residential properties selling. Section sales have slowed with only one subdivided section in Elgin selling for $27,000. Demand for rear sites in established neighbourhoods is very limited and now that all of the Developer’s sites in the subdivisions now sold, individual owners who are sitting on vacant lots and are wanting to sell can expect to see more enquiry. Prices however are not likely to be at previously purchased price levels.

The median sale was $250,000 – up from last month’s $233,500.

While sales are ticking over, sellers are having to meet the buyer’s lower prices, unless their property has added value through upgrades.

See the Monthly Snapshot for July here.

Like to see the actual sales? please email nwalker.gisborne@ljh.co.nz

posted by Neil Walker LJ Hooker Gisborne

June Rounds off a Steady Quarter

George Searle — Tue, 29 Jul 2014 19:49:05 +0000

There were 42 residential property sales during June 2014 in Gisborne City. That’s a strong result, given that there seem to be fewer buyers in the low end of the market right now. The Reserve Bank’s policy requiring banks to restrict the number of high level borrowing loans (above 80%) has curbed demand, particularly in the lower end of the market. That explains why the median sale price remains around $235,000 despite no apparent lift in market values.

There were only a few top end sales with one at $900,000 (Wainui Beach) and three more in the $500,000 – $600,000 range (two at Wainui Beach and one in Lytton West).

The most affordable property in June was a 2 bedroom home in Mangapapa that sold for $65,000. Cheap as chips!

View the latest Quarterly Medians and Volumes here.

Like to know more? email me directly for more information.

posted by Neil Walker LJ Hooker Gisborne