PROPERTY MARKET

GISBORNE

+13.7%

12 MONTH RENTAL TREND

46

DAYS TO SELL

+24.7%

12 MONTH PRICE TREND

$695,000

MEDIAN PRICE

GISBORNE

Population: 47,500 (2021)

Forecast Population: 52,063 by 2043 source Statistics New Zealand

$ Medium Price: $695,000 (Source REINZ May22)

12 Month Pricing Trend: +11.7% (Source REINZ May22)

12 Month Rent Trend: 24.7%

Tertiary Education:
Eastern Institute of Technology

Industries:
Tourism, Horticulture – food and beverage production, Forestry and Farming

The first place to see the sunrise each day, the Gisborne region features high sunshine hours and thousands of acres of fertile land surrounded by hills and the Pacific Ocean creating a unique micro-climate with some of the best farming and growing conditions in the World.

Gisborne is also the best performing location for property investors. According to the Real Estate Institute it is the only region where rental yields increased last year. The institute’s latest Capital Gains and Rental Yields report, which covered the second half of last year, showed Gisborne had the highest annual increase in rental prices and the only increase in rental yields.

Rental yield is the measure of rental income a property generates against its purchase price. The report calculated yield by looking at annualised median rent compared to a region’s median price. In the six months ending December, Gisborne’s rents were up by 24.7 per cent on the same period in 2020, while its median price was up by 27.8 per cent to $642,000 over the same time.