The Unconditional Blog

The impartial voice of the industry

 
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My Property

Posted on: September 2nd, 2015 | Filed in Uncategorized

My Property allows you to save searches and receive email alerts for new properties which match your criteria. You can easily keep track of individual properties and open homes you are interested in too. Login or signup to My Property from the links in the property finder bar or the top right corner of the site.

Saved Searches & Email Alerts

  1. Login to My Property and enter your search Criteria into the property finder as shown below.
  2. Select ‘Advanced Search’ to search multiple suburbs
  3. Click on find properties to display all the results that match your criteria
  4. Once the results have appeared, click on the option to ‘save this search and get updates’ as highlighted below.
    myproperty_1
  5. After clicking the link this will allow you to edit and name your saved searches. Email alerts for your search will be sent daily, but you can change that to weekly, fortnightly or even monthly. You can also disable the email alerts if you wish.
    myproperty_2

Saved Homes & Open Home Planner

  1. You can save individual listings to My Property by clicking on the star-shaped icon in the search results or on the ‘Save’ button on the individual listing page.myproperty_3
  2. If there are any open homes associated with the property you will find them in the individual listing page and you can save them to your open home time planner.myproperty_4

 

 

 

View your saved searches, saved homes and open homes at any time from the My Property tab

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Boom Expected in New Zealand’s Commercial Property Market Due to Chinese Investment

Posted on: September 1st, 2015 | Filed in Commercial, Featured, International, Market News

The commercial property market in New Zealand has long been buoyant, but a huge boom is expected in the industry due to lucrative new investment from the Chinese market.  But why is this boom expected now? And what impact will it have on our already successful real estate markets?

A Release of Chinese Equity

The second phase of the Qualified Domestic Individual Investor (QDII2) programme implemented by the Chinese Government will come into effect this month. This programme removes certain restrictions that were placed on Chinese citizens and businesses from purchasing and investing in property overseas. As a result of this, it is expected that savvy Chinese individuals and businesses drawn to New Zealand will pour an incredible US$10.9 billion into the New Zealand commercial and residential real estate markets. Whilst this figure seems huge it is based on the wealthy Chinese individuals set to benefit from this programme investing just 10 per cent of their assets into international commercial and residential property. Whilst this 10 per cent investment will be shared across several countries, this forecast is based on New Zealand attracting approximately 3.3 per cent of that property-specific investment, as it has in the past when similar percentages of the Chinese affluent have chosen to invest in property abroad.

The Importance of Being Welcoming

With such potentially lucrative property investments set to be made in the country, those working with the commercial property and real estate sectors are being cautioned on the importance of being welcoming to potential Chinese investors. This welcome should be implemented on both the small and the large scale: from employing realtors who are able to communicate in Chinese, to lobbying government to make the country more appealing to Chinese investors. It has been recommended by experts in the field that, to ensure that US$10.9 billion floods into the New Zealand economy rather than being diverted and invested elsewhere, the government and big business should look to make relevant improvements to the national education system as well as increasing the number of direct flights to China available from many of the country’s most investible major cities. Other companies and business types related to the property market, such as those offering the protection of home insurance or lawyers specialising in commercial and residential property law may well also be wise to adapt their business models and practices to appeal to the impending influx of expected Chinese buyers and investors.

 It is important to remember that whilst this huge number of Chinese investment dollars is expected make its way into our economy, competition amongst other investible countries to secure the money freed up by the latest stage of the Qualified Domestic Individual Investor (QDII2) programme is fierce. New Zealand certainly isn’t the only country in the world whose economy could benefit from  a huge cash injection: but it is more than simply the revenue this investment will bring that is important. This will create new jobs, new construction, and as commercial, industrial, retail and residential properties are all forecast to be targeted by this new investment it will have massive and positive effects across all areas of the New Zealand property market.

The Other Side of The Coin

Not everyone is happy about this potentially huge influx of Chinese investment. Other commentators have suggested that New Zealand’s infrastructure simply isn’t set up for such huge property focus and development, nor is it in a position to change that in the immediate future. There is also concern about the impact that such a huge amount of property purchases from overseas investors will have on a property market that is already overstretched in some areas, and how this will impact New Zealand citizens and existing residents that are looking to find properties of their own. Both of these concerns are valid, but they are also concerns that can be overcome.                                            

What is clear is that this new Chinese investment is coming to New Zealand, and by being prepared for their arrival, now is the ideal time for commercial and residential property developers and realtors to benefit significantly from this influx. 

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Asking prices for properties across New Zealand reach record highs in August with new national average high of $568,215

Posted on: September 1st, 2015 | Filed in Featured, NZ Property Report

New highs in average asking price reached in Auckland, Waikato, Wellington and Canterbury

 

AUCKLAND, 1 September 2015 – The seasonally adjusted average asking price for homes for sale in New Zealand in August was $568,215. This reflects an increase of 5.5% in just one month, since the previous record high national asking price of $538,484 set in July. Property_Asking_Price_Map_Aug15

Data analysis by Realestate.co.nz, New Zealand’s largest property listing website, reveals that the surge in property prices is not limited to Auckland, where a new record asking price of $832,613 was reached (up from the previous record $820,016 in June 2015).

Eight of the nineteen regions across the country achieved record high average asking prices in August. These include Wellington, where the average asking price was $479,399 (up from the previous record of $469,487 set in March 2014); Canterbury, with an average asking price of $475,066 (up from $473,011 in June 2015); and Waikato, with an average asking price of $403,640 (up from $398,251 in July 2015).

Significantly higher prices were also recorded in the Bay of Plenty, the Central North Island and Hawkes Bay.

“The pressure on the Auckland market is clearly being felt in neighbouring regions as well, especially Waikato and Bay of Plenty,” says Brendon Skipper, CEO of Realestate.co.nz.

Low inventory of homes for sale

“The low inventory does not mean that there are fewer homes on the market, but rather that the turnover is faster,” says Skipper. “In fact, listings nationally are up 12.8% compared to a year ago.” NZ_Inventory_Aug15

In conjunction with the record prices nationally, the inventory of properties for sale is at its lowest level since January 2007, when Realestate.co.nz started tracking this metric. Inventory is a measure of supply and demand that indicates how long it would take, in theory, for all the current properties on the market to be sold at the current average rate of sales.

The national inventory in August was a mere 17 weeks, compared to the long-term average of 35 weeks. The shortage of inventory is most acute in the major centres – 9 weeks in Auckland, 12 weeks in Wellington, 14 weeks in Waikato and 18 weeks in Canterbury. The only region where the inventory is above the long-term average is West Coast, where there is 230 weeks of inventory, compared to a long-term average of 129. New_Property_Listings_Map_Aug15

 

About Realestate.co.nz

Realestate.co.nz offers buyers the shortest path to the perfect property. As the official website of the New Zealand real estate industry, Realestate.co.nz is dedicated to property and has the country’s most comprehensive selection of real estate listings online. The site presents more than 97% of all residential, commercial and farm properties currently marketed by real estate professionals. Being focussed exclusively on people in need of property, Realestate.co.nz offers superior functionality, including accurate search, school zone data and a mobile app.

 

For media enquiries, please contact:

Nicholas O’Flaherty, Camino public relations              Vanessa Taylor, Realestate.co.nz

T: +64 21 303 181                                                        T: +64 275 760 260

E: nicholaso@camino.co.nz                                         E: Vanessa@realestate.co.nz

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HouGarden – a few frequently asked questions.

Posted on: August 24th, 2015 | Filed in Agent Tips

Is HouGarden owned by Realestate.co.nz?

HouGarden.com is not owned by Realestate.co.nz. It is independent of any real estate agency or organisation, providing a level playing field for vendors and agents who are seeking to reach Chinese purchasers.

What is the business relationship between Realestate.co.nz and HouGarden?

HouGarden.com was founded in 2011 by Sam Yin. Since then HouGarden.com has kept a close business relationship with Realestate.co.nz in a joint venture arrangement. HouGarden pulls all listings directly from Realestate.co.nz and translates them for the Chinese buyer market.

How does HouGarden get my listings on to their site?

Hougarden.com has an agreement with Realestate.co.nz for all the listings on their site to automatically feed into HouGarden.com via an API system. HouGarden.com translates the key information in the listing into Chinese, such as numbers of bedrooms/bathrooms, floor and land area, etc. but the rest remains in English, such as the listing subject and listing description.

Hougarden.com provides agents with opportunities to have their listings highlighted on the site by paying a fee and receiving a ‘Featured’ or ‘Showcase’ listing – very similar to that on REalestate.co.nz, as well as additional opportunities for agents to promote their listing and even themselves.

 

What listings get updated to HouGarden and how often?

HouGarden.com has sections for residential, commercial, rental, rural and business for sale. All the listings that appear on Realestate.co.nz will automatically feed into HouGarden.com. It takes no longer than 12 hours to get the listings live on HouGarden.

 

If I buy a premium listing on Realestate.co.nz does it automatically upgrade on Hougarden.com?

HouGarden.com has its own premium listings products, and a premium listing on Realestate.co.nz is not ungraded when it appears on Hougarden.com.

 

What do I get if I upgrade my listing on HouGarden?

It depends on how much you’d like to spend. Agency discount packages start from just $99 Inc. GST for a three week marketing campaign, and continue from there. A ‘Plus Package’, which includes a three week feature listing (stays at top of the page and larger size) plus a three week showcase (inclusion in carousel at the very top of the page) for just $249 Inc. GST. There are packages for commercial listings, new projects, special photography, video, WeChat (Chinese Facebook) and more – all designed to help you market your property most effectively.

Who do I contact at HouGarden for –

If I would like a representative from HouGarden to come and visit my office, upgrading a listing, update my agent profile, enquire about a listing that is not displaying correctly, take banner advertising on the site or finding user stats about HouGarden?

Contact the HouGarden office administrator, Lizzie, on 09 479 8978 and she will pass the requests onto the responsible person or deal with it herself.

 

Where do I find the latest HouGarden flyers?

Please download from here

What is the difference between HouGarden and other Chinese listing sites?

HouGarden is the only Chinese site focusing on New Zealand, and since it has all the Realestate.co.nz listings it is by far the most comprehensive real estate portal for Chinese people looking for property in New Zealand. For those Chinese wanting to buy New Zealand property while still living overseas, and for those Chinese people living here, it is by far the best opportunity to view New Zealand properties.

For vendors and agents who want to target the Chinese market, HouGarden is unmatched in its viewership, especially from Chinese in New Zealand who currently make up around 36-40,000 visitors per month coming back to the site more than once. On HouGarden, these NZ-based Chinese and China-based Chinese spend on average 21 minutes and view 18 pages per visit – they are hunting property.

When you upgrade you listing on HouGarden it is manually translated by our team into Mandarin. This means there is no translation errors and the listing read professionally to Chinese buyers.

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The Property Line, Issue 1. August 2015

Posted on: August 24th, 2015 | Filed in Uncategorized

Welcome to the first edition of The Property Line Quarterly Report, which looks at some of the major forces driving this country’s property market.

A key theme of this report is the balance between supply and demand.

It looks at how migration has pushed demand for housing in Auckland well above the supply that’s coming on stream, and how the gap between the two is getting bigger by the day.

It also looks at what’s happening with residential investment yields and suggests capital gain is the only game in town for Auckland investors.

We concentrate on the supply side of the equation for commercial property with a look at how much office, retail and industrial property in the three main centres was listed for sale on Realestate.co.nz last month, and summarise the building consent trends in the same categories.

As its name suggests the The Property Line Quarterly Report will be published every three months and will be sent out free to subscribers of interest.co.nz’s Property Newsletter, which is also free.

The Property Newsletter is emailed to subscribers 3-5 times a week and brings all of the latest commercial and residential property stories published on interest.co.nz directly to your inbox.

Both the Quarterly Reports and regular newsletters are free, we do not pass on your details to third parties and you can unsubscribe at any time.

To subscribe to the Property Newsletters and receive the Quarterly Reports go to: http:// www.interest.co.nz/news/emails-newsletters-sign-up

Greg Ninness

Property Editor

interest.co.nz

 

Download your copy here: Property Line August 2015

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Our Top 10 Most Interesting Homes for August 2015

Posted on: August 21st, 2015 | Filed in Uncategorized

# 1

620ff38badf3006c57c0a5d9a0e264ea.scale.1024x682This gothic-inspired home has its very own 15 metre turret with stunning panoramic views of Auckland. Aesthetically bold and described by some as a magical place to live, this 1860’s Epsom mansion is any historians dream home.
http://www.realestate.co.nz/2531640


# 2

efb2f4a6fc0c41ba28993a2c6c3c22a3.scale.1024x682Here is a truly iconic slice of original Wellington – the Logan House at Windy Point. Each room owns a different view of the harbour, and many of the early Athfield hallmarks are evident: rounded walls, slit windows, tile flooring, floor to ceiling glass. Spread over 7 levels and built with 16,000 reclaimed bricks in the 1970s, it’s an undeniable masterpiece.
http://www.realestate.co.nz/2562211


# 3

fd07aa1225b0804d533fe8cda60eeffb.scale.1024x682‘The Fin’, Waiheke Island’s ultimate weekend getaway, is now on the market. Its cool white modern interior and open plan aesthetic offer the perfect contrast to the cathedral-like glass front entrance. When you find the spa pool set amongst bush you’ll realise this is the ultimate way to relax with one of the lovely local wines at the end of the day.
http://www.realestate.co.nz/2570141


# 4

0a52ad377882cd380e14c7ea61d05dcd.scale.1024x682Situated on the top floor of Landmark House in the heart of Auckland CBD, this top floor lease offers 4 offices with a large reception and toilet area. The corner turret was originally built in 1930, a unique feature which adds a rustic feel and style to the whole office which a dentist currently operates out of. He sure could distract his clients with the view.
http://www.realestate.co.nz/2605643


# 5

5c1dac36065552dcab7bd4a557b04b90.scale.1024x682Welcome to New Zealand’s largest natural log home. Constructed in 2009 with 4 large bedrooms, 3 bathrooms including spa, at the heart of it all is the magnificent 6.8m high Great Room – an exquisite showpiece. Unmatched in grandeur, warmth and beauty, this 634mÇ masterpiece is a little slice of Aspen right here in Central Otago.
http://www.realestate.co.nz/2613563


# 6

6d77fb2fe2a47458c877587a9457bfd1.scale.1024x682This near new beach house with legal beach access, allows for both formal and casual living. The home’s clean lines are crisp and organic – its cladding merging seamlessly into the established beach setting. Punctuating the living area is a staircase which will take you up to the exclusive mezzanine reading room, where the expansive views through the Totara louvres, which can be manoeuvred to suit the elements, offer a stunning outlook towards the ocean and Kapiti Island.
http://www.realestate.co.nz/2607516


# 74c58324c3c83b166d9cc6e194102f03f.scale.1024x682This home just “works”, offering 3 bedrooms, character, history, pond, and ample land for pets and sheep. Set on 1.12 hectares, it’s just 8 minutes drive to village of Lawrence.
http://www.realestate.co.nz/2613893


# 8577ef6f3b553e13d6de04150b92b83fd.scale.1024x682This well-maintained property in Picton offers an amazing covered outdoor living area, and all principal rooms offer wonderful views over Waikawa Bay to the mountains. Included is a registered boat mooring, and use of a very versatile floating boat jetty. It’s a completely unique opportunity to enjoy literal waterside living.
http://www.realestate.co.nz/2523580


# 910a30ade947c6e1338b33b80d4a6cde9.scale.1024x682
This timeless home of sumptuous simplicity takes maximum advantage of its breathtaking position, with a concealed lift which provides access from the lower ground floor level to the main living level. The living area opens onto a magnificent covered verandah that incorporates a stone fireplace and an adjustable roof. An incomparable setting, inspirational architecture – this Maori Hill home offers a lifestyle beyond compare.
http://www.realestate.co.nz/2436740


# 107d2bb428e85b0ed59d710c4c3da57fa6.scale.1024x682Those with an appreciation for design elements will love the interior of this chic home which includes imported light fittings, 19th century Egyptian entrance doors, jurassic stone hearth, imported linen curtains and honed concrete, to name just a few. The seamless indoor/outdoor flow to the invitingly landscaped garden includes an outdoor gas fire and cedar spa pool. It delivers undeniable quality, exceptional style and unrelenting attention to detail.
http://www.realestate.co.nz/2603900

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2 ½ years of NZ houses

Posted on: August 13th, 2015 | Filed in Uncategorized

We wanted to see “What does a house look like?”, so Realestate.co.nz looked at all the new listings across New Zealand between 1 Jan 2013 to 30 June 2015 and separated listings for house and town houses. 

We found some surprising changes and put them in the infographic below. Pretty interesting, eh?

 If you would like to see the data we uncovered, you can find it here.

REALESTATE infographic FIN DISC

 

 

 

 

 

 

 

 

 

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Data indicates East Asian interest in Auckland property accounts for around 5% of those viewing online listings in the city

Posted on: August 1st, 2015 | Filed in Featured, NZ Property Report

Many East Asian buyers are likely to be immigrants already living in New Zealand

AUCKLAND, 1 August 2015 – A viewership analysis by Realestate.co.nz, New Zealand’s largest property listing website, indicates that visitors to the portal who are primary speakers of an East Asian language comprise around 5% of all online traffic viewing Auckland property, up from 4% the same time last year. Moreover, geo-location analysis shows that almost half the East Asian online traffic is likely to originate in New Zealand from immigrants already living here. Realestate.co.nz carried out the data analysis of its online traffic for the period January to April 2015.

Total traffic from the ten largest East Asian countries and territories, measured as a percentage of unique sessions, accounted for 2.8% of total traffic for Auckland properties on Realestate.co.nz in January to April 2015, compared to 2.98 % for the same period last year. These nations and territories include China, Hong Kong, Taiwan, Malaysia, Singapore, South Korea, Japan, Indonesia, the Philippines and Thailand.

“This data indicates that interest in New Zealand property originating from these ten countries in East Asia has remained at a consistent and relatively small proportion of total traffic to our website, comprising slightly less than 3% in both periods measured in 2014 and 2015,” says Brendon Skipper, CEO of Realestate.co.nz.

“However, with around 5% of our visitors indicating fluency in an East Asian language, while only 2.8% of offshore traffic originate from East Asian countries, it is clear that a large number of these Asian language speakers are actually located in New Zealand.”

The default language setting in the device of each visitor to Realestate.co.nz is automatically detected, which allows the property portal to create a linguistic map of total traffic. The company is able to quantify traffic numbers for each language setting, regardless of location, including speakers of Chinese, Korean, Japanese and other East Asian languages who are residing in New Zealand.

 

Property prices stabilise nationally

Property asking prices nationwide have stabilised in July, with an increase of only 0.1% recorded. Asking prices in Auckland, Canterbury, Wellington and Hawke’s Bay have all fallen marginally, with Waikato the only major population centre to show an increase. The average asking price in Auckland decreased by 1.4% – the most significant decrease since October 2014.

 

Asking price July 2015

“We have seen occasional minor decreases in Auckland property prices over the last few years, so we must assume this is a temporary blip,” says Skipper. “The overall price graph in Auckland is still trending strongly upwards.”

Nationally, the market is tight, with inventory at its lowest level since Realestate.co.nz started recording this metric in January 2007. Inventory is a measure of supply and demand that indicates how long it would take, in theory, for all the current properties on the market to be sold at the current average rate of sales. The inventory for July 2015 is 18 weeks, almost half the long-term average of 35 weeks. The West Coast and Taranaki are the only regions in the country where the current supply exceeds the local long-term average.

 

NZ Inventory July 2015Following the usual seasonal pattern, new property listings in July 2015 increased from the previous month. Listings are also up compared to July 2014, with 5.6% more properties coming onto the market this July than in the same month last year.Property listings July 2015 Seven of the 19 New Zealand regions had more properties coming on sale in July 2015 than in July 2014, including the Auckland market, which has a large influence on national figures. Waikato had the largest listing increase of 21.8%, followed by Auckland (+20.2%), Marlborough (+14.3%), Hawke’s Bay (+13.6%), Gisborne (+6.55), Northland (+4.9%) and Canterbury (+3.6%).

 

 

House Hunt on TV One

Realestate.co.nz is a major sponsor of popular television show, House Hunt (8.00pm Sundays on TV One), which follows the journeys of diverse people from all walks of life across New Zealand as they look to buy their first home. The programme highlights the varied issues facing home buyers in different regions.

Inventory_LTA_Chart_JULY_2015

 

About Realestate.co.nz

Realestate.co.nz is the official website of the New Zealand real estate industry, and provides the most comprehensive selection of licensed real estate listings. Realestate.co.nz lists more than 250,000 properties each year, representing more than 97 per cent of all listings currently marketed by real estate professionals.

 

For media enquiries, please contact:

Vanessa Taylor, Realestate.co.nz

T: +64 275 760 260

E: vanessa@realestate.co.nz

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School Zones are here on Realestate.co.nz

Posted on: July 31st, 2015 | Filed in Technology

Want to see the school zones for the houses you are browsing? Here is how you do it

  1. Click on the maps tab in the property listing you are interested in
    schoolzone_1
  2. Hit school zones
  3. Click on the schools icon
    schoolzone_2

There are two types of school icons – one is purple and one is Grey.

Grey – Shows you the unzoned schools

Purple – Shows you the zoned schools and the area that is zoned to that particular school

schoolzone_3

Each icon will also share with you the following information about the school

  • Decile rating – the decile rating of the school.
  • Roll – how many pupils attend the school
  • Type – whether the school is a public or private establishment
  • Age – the schooling age of the pupils
  • Distance – the distance from the listed property to the school

Please note – Listing data is cross referenced with the Ministry of Education, meaning some listings may not have school information available as the data cannot be guaranteed to be accurate.

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Realestate.co.nz mobile app usage surges as serious home buyers seek competitive edge

Posted on: July 1st, 2015 | Filed in Featured, NZ Property Report

National average asking price in June hits new record of $537,682

AUCKLAND, 1 July 2015 – According to Realestate.co.nz, New Zealand’s largest property listing website, the highly competitive property market has sparked a surge in mobile app usage. Not only has the total number of Realestate.co.nz mobile app users grown at a much faster rate than other platforms in the last twelve months, but the average mobile app user visits the property portal significantly more often than they did the same time last year.Yahoo1200x627

“While the number of buyers who use the website on any platform – desktop, mobile or tablet – has shown strong growth of 33% compared to the same time last year, mobile app users have increased by an even greater 44%,” reports Brendon Skipper, CEO of Realestate.co.nz.

“But more significantly, mobile app users now use the Realestate.co.nz app even more frequently than they did before. Today, the average smartphone user visits the app 16% more often than they did a year ago in June 2014.

“Clearly, serious home buyers have realised that there is a competitive advantage to be gained by inspecting online listings as frequently as possible, and the Realestate.co.nz mobile app provides a powerful platform to search for properties anytime, from anywhere.

“In addition, New Zealanders are clearly more comfortable and savvier in maximising the increasingly comprehensive toolset that comes with today’s smartphones and the applications that are available to them,” says Skipper.

 

June property data shows increase in national average asking price

Property_Asking_Price_Map_JUNE_2015While only eight of the nineteen national regions showed an increase in average asking price in June, these increases were so significant that the national average asking price rose by 0.9% to a new record of $537,682 in June. Three regions in particular saw a strong increase in the average asking price, with the Auckland market having the biggest impact nationally due to its size.

For the first time, the average asking price for Auckland homes rose above $800,000. The average asking price of $820,016 in June 2015 is 3.4% higher than the previous record of $793,260 recorded in May.

Sellers in Central Otago asked on average 9% more for their homes in June than in May, reaching an average asking price of $762,284. Gisborne asking prices experienced even higher relative growth of 10.3%, but from a lower base – the average asking price in Gisborne in June was $287,140.

Other regions that saw monthly increases in average asking price in June include: Manawatu/Wanganui (+4.8%), Taranaki (+4.5%), Otago (+2.1%), Canterbury (+1.8%) and Central North Island (+1.7%).

Major population centres such as Wellington and the Waikato saw a small decrease in the average asking price. In Wellington, it went down by 1% to $457,488, and in the Waikato by 0.5% to $385,325.

 

Property demand outstrips supply

Total_NewProperty_Listing_Map_JUNE_2015A total of 8,748 new properties were listed nationwide in June this year, 2.6% more than the corresponding month in 2014. Of these, 3,138 were in Auckland. The only other region that saw more than a thousand new properties come onto the market was Canterbury, with 1,117. More than 500 new properties were listed for sale in each of Waikato, the Bay of Plenty and Wellington.

Despite these new properties coming onto the market, the national average in overall inventory of available housing stock for sale remains at an all-time low of only 20 weeks. Inventory is a measure of supply and demand that indicates how long it would take, in theory, for all the current properties on the market to be sold at the current average rate of sales. Based on these figures, only two of the 19 regions in the country are currently rated as buyers’ markets: Southland and West Coast.

ENDS

 

2015-06-15_15282015-06-15_15292015-06-15_1529_0012015-06-15_1530

For media enquiries, please contact:

Nicholas O’Flaherty, Camino public relations                  Brendon Skipper, Realestate.co.nz

T: +64 21 303 181                                                          T: +64 21 542 607

E: nicholaso@camino.co.nz                                          E: brendon@realestate.co.nz

 

Notes:

About Realestate.co.nz Realestate.co.nz is the official website of the New Zealand real estate industry, and provides the most c  omprehensive selection of licensed real estate listings. Realestate.co.nz lists more than 120,000 properties each year, representing more than 97 per cent of all listings currently marketed by real estate professionals.

Truncated mean The monthly asking price for new listings presented in this report utilises the measure of ‘truncated mean’. This measure is judged to be a more accurate measure of the market price than average price as it statistically removes the extremes that exist within any property market that can so easily introduce a skew to traditional average price figures. The truncated mean used in this report removes the upper 10% and the lower 10% of listings in each data set. An average or mean of the balance of listings is then calculated.

Methodology With the largest database of properties for sale in NZ from licensed real estate agents, realestate.co.nz is uniquely placed to immediately identify any changes in the marketplace. The realestate.co.nz NZ Property Report is compiled from new listings coming onto the market from the more than 1,000 licensed real estate offices across NZ, representing more than 97% of all offices. With an average monthly level of over 10,000 new listings, the realestate.co.nz NZ Property Report provides the largest monthly sample report on the residential property market, as well as a more timely view of the property market than any other property report. The data is collated and analysed at the close of each month, and the Report is compiled for the 1st day of the following month. This provides a feedback mechanism as to the immediate state of the market, well in advance of sales statistics, which by the very nature of the selling process can reflect activity with a lag of between 2 and 4 months.

Seasonally adjustment The core data for the NZ Property Report is seasonally adjusted to better represent the core underlying trend of the property market in NZ. In preparing this seasonally adjusted data Realestate.co.nz is grateful for the assistance of the New Zealand Institute of Economic Research (NZIER) who use an X12 ARIMA methodology to calculate seasonally adjusted data

 

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