Gisborne’s December median house price a record high

The median house price in Gisborne climbed to a record high of $730,000 in December, according to the latest Real Estate Institute of NZ figures. Photo / Gisborne Herald

Gisborne’s median house price increased by 24.8% year-on-year to $730,000 in December, a record high for the region, according to Real Estate Institute of New Zealand figures.

“Owner-occupiers were the most active buyer group across the region as more look to upsize their current properties,” Real Estate Institute of New Zealand (Reinz) said in a statement.

More properties were listed for auction and clearance rates were slowly lifting.

“Market sentiment was influenced by the increased number of people wanting to sell and the increased number of active buyers. However, there was a lack of urgency due to high stock levels,” Reinz said.

“Local salespeople noted that the local market felt more balanced with increased competition. Even though listing numbers increased, they saw good results.”

Forty-three residential properties were sold in Gisborne in December, compared with 48 in November when the average was $655,000.

The average days-to-sell figure for last month was 43, more than the 10-year average for December of 36.