To say it has been a big year, is an understatement. It has been a mega year in the real estate world, particularly in Gisborne where we saw fierce competition between buyers drive prices through the roof. In October and November 2020 Gizzy was on fire, with house prices and volumes sold AND, December has continued to perform well for our Sellers.
- October 2019 median sale price $425,000 compared to 2020 $570,000 [64 sold] – a price increase year on year of 34.1%.
- November 2019 median sale price $389,000 compared to 2020 $530,000 [67 sold] – a price increase year on year of 36.2% !
- December – well that is going to be interesting, so stay tuned for that.
New Rateable values were released in Gisborne in December, so there will be a bit of adjusting over the next few months as Buyers and Sellers try to guess what a particular property is worth by adding or subtracting an estimated % based on recent sale averages locally. It’s quite amusing hearing everyone’s comments about new RV’s … they really are quite irrelevant when talking about buying and selling and setting values, BUT what I would say to SELLERS – if you don’t agree with your new RV do make contact with the local Council. Often I hear Sellers saying “well our RV is wrong but we just didn’t object as we didn’t want our rates to go up !“. The reality is people – the annual rates do not increased a heck of a lot in the scheme of things, so that it wouldn’t warrant not lodging an objection to get your RV more reflect on value. In the long term, if you decide to sell, when Buyers start assessing property and focusing their numbers in and around the new RV; it may make a big difference to you as a Seller. So get over the perception of a huge rates hit upwards and look into it – stat !
I had an excellent year in my business with great improvements made for my Sellers & Buyers :
- My 3D Matterport tours are just amazing – buyers can literally walk through a property from the comfort of their home;
- My personal videos; buyers are loving, “genuine”, “real-time”, and all round “neat to watch” – are proving a hit with my social media followings too. I just roll them ‘off the cuff’ seeing it as I see it from a buyer’s point of view pointing out the benefits to buyers [ I have the occasional blooper but that is all part of the ‘keeping it real and keeping it true’ and if I can give someone a giggle along the way, why not 🙂 ];
- The floorplans are awesome too, to get the idea of sizes of rooms and spaces;
- And, now my Smart Little Fee has the marketing costs ALL INCLUSIVE ! – YAY for sellers.
The cheapest house I sold early this year was $257,500 (wow – you wouldn’t buy that now in this new market at this price) [just on Covid] (2 bedrooms and needed a lot of work … what a very lucky buyer as he was in the trade and had the skills that most buyers were shying away from]; – and my highest sale was at $1,295,000, actually I sold two that same week all cash, around the same price range so yes there is definitely some awesome homes to be owned in Gisborne.
It’s also been a pretty emotional year for me. Buying is a hugely emotional process, and having to tell multiple buyers time and time again that they have missed out on their dream property has hit me hard; an aspect of this job that is often underestimated; it really isn’t just about ‘the sale’ for me.
So from me, my hubbie, TrevB aka the Maintenance Man, and my Amazing PA [Lynne McKay] – have a wonderful Xmas and spent time with family and friends and appreciate all that you have. Let’s all sprinkle love and good vibes everywhere we go as everyone deserves a little happiness – and, BRING ON 2021 it is going to be fabulous for all of us XOXO.