Gisborne property market: Record low sales but listings up 36.8%

Gisborne's residential property market has started 2025 with a surge in listings and buyer inquiries this month on the back of a quiet December. Photo / Liam Clayton

Gisborne had its lowest home sales count in December since records began but had the most significant percentage gain in listings in the country for the month.

The Real Estate Institute (Reinz) reported Gisborne was one of seven regions that had increases in listings in December compared to 2023.

“The most significant gain was reported in Gisborne at 36.8%, then Nelson at 33.1% and the West Coast 32.1%,” Reinz chief executive Jen Baird said.

The median house sale price here in December was $581,000 – up 4.7% on the same month last year.

The Wairoa district recorded a median price of $621,000, which was 1.4% higher than the previous record set in January 2021.

In Gisborne, the median “days to sell” figure last month was the highest since 2001.

“The New Zealand property market experienced a relatively quiet month in December overall,” Baird said.

“December is usually a quiet month for the housing market, and last month was a particularly quiet month for residential dwelling sales in New Zealand.”

Simon Bousfield from Bayleys Gisborne confirmed December was much quieter than usual.

“The surge in listings and buyer inquiry in January suggests the trend of December will not continue through January.

“Across the year in the North Island, Gisborne had the largest positive change in median prices across New Zealand, up 4.2% to $615,000,” Bousfield said.

“Gisborne also recorded the largest jump in sales of any region, up 25.5% to 467 last year.”