I'm just starting to get my head round Git because we are now growing as a team so now need versioning. I know I can have a repository on our server but do I need to install it too? Git site doesn't specify anything but I don't want assume anything either. Server is hybrid/vps (possibly moving soon to dedicated) running centos6. Thanks
Yes, you should install Git on your server. Refer to the Git installation chapter of the Git book.
Git is included in the standard CentOS repositories, so just doing
sudo yum install git should work.