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Property Report – March 2014

blue pen and small houseThe March 2014 NZ Property Report published by Realestate.co.nz provides an insight into the state of the New Zealand property market as measured by the supply side of the property market over the month of March. A full print version of the NZ Property Report – March 2014 is published below and is available for download (800kb) and distribution.

 

Summary of the market – March 2014

Residential asking prices reach new national high

CoverPage_Report_Jan14

Average asking prices of newly listed residential properties across New Zealand rose to a new record high in March driven by renewed seller confidence in the major centres.

The record high (seasonally adjusted) average asking price of $484,263 was driven up by new record asking prices in Auckland, Wellington, and Waikato.

Average Auckland asking prices have risen 12% in the last year, reaching $683,169 in March, Wellington asking prices rose 7% Year on Year to $469,487, and Waikato rose 10% Year on Year to $393,169,

New national listings in March showed lower levels than historic years, with 12,488 new homes come on the market. This equates to 2% less than the number of new listings seen in March 2013. However Auckland, Wellington, and Christchurch all saw a healthy increase in new listings, providing more selection in the biggest NZ region.

The inventory of unsold homes on the market recovered slightly in March, rising 8% from February to 28 weeks of stock, and shows that the market is beginning to see re-balancing. Due to the rise in listings Auckland began to see a recovery in inventory, rising 19% from 13 weeks to 15 weeks of stock.

Regional Summary – Asking price expectations

Regional map of asking price NZ Property Report Feb 2013

Following the record asking prices seen last month, national asking prices again reached new records in March of $484,263 (Seasonally Adjusted Truncated Mean)

Record high asking prices were seen in 3 regions in New Zealand; Auckland, where the average asking price reached a new high of $683,169 (up 12% on March 2013); Wellington, where asking prices reached $469,487 (up 7% on March 2013); and Waikato where asking prices reached $393,169 (up 10% on March 2013).

In total 8 regions saw asking price increases, with just 1 region reporting an asking price increases greater than 5%. Gisborne reported the largest increase, up 6% from February to $297,255.

Of the 11 regions witnessing asking price falls there were 5 that reported falls greater than 5%, Wairarapa saw the biggest fall, down 13% from February to $285,829. Followed by West Coast, who witnessed a fall of 12.4% to an average asking price of $280,427.

Regional Summary – Listings

Regional map of new listings NZ Property Report Feb 2014

March saw a lower level of new listings than expected, with 12,488 new homes coming on the market. This was down 2% from March last year to the lowest level of listings seen for March since 2009.

New listings fell across most of the country in March with just 5 of the 19 regions seeing a listing increase on a year on year basis.

Of the 14 regions that reported lower new listings than February last year the most significant fall was seen in Coromandel and Nelson, falling 29% and 25% respectively.

There were 5 regions reporting year on year increase of listings with Wellington reporting the biggest increase of listings (up 11% from March 2013).

In the other main centers, Auckland, reported 4,389 new listings, up 5% from March 2013 and Canterbury reported 1,473 new listings, up 3.7% from last year.

Regional Summary – Inventory

Regional map of inventory NZ Property Report Feb 14

The inventory of unsold homes on the market recovered slightly in March, rising 8% from February to 28 weeks of stock, and shows that the market is beginning to see re-balancing.

The rise in inventory during the last month was witnessed in 13 of the 19 NZ regions, but overall the market remains firmly a seller’s market, and inventory on the market remains well below the long-term average of 37 weeks of equivalent sales.

Market sentiment continues to favour sellers in 12 regions (marked in blue), with the greatest strain continuing to be felt in the 6 regions, which are marked in dark blue.

Due to a healthy rise in listings, Auckland began to see a recovery in inventory, rising 19% from 13 weeks to 15 weeks of stock.

The level of unsold houses on the market at the end of March (42,152) was up slightly, when compared to February (41,731).

 

For Media Enquiries, please contact:

Paul McKenzie, National Marketing Manager, Realestate.co.nz | +64 21 618 537

Notes:

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.

Background to Realestate.co.nz Realestate.co.nz is the official website company of the real estate industry of New Zealand, it is an industry owned web business providing online marketing services to the real estate industry. The shareholders in the business comprise the REINZ (50%) and five of the largest real estate companies (50%). The business operates a portfolio of websites all focused to specialist sectors of the real estate market:

Realestate.co.nz is the heart of the business and is focused to the residential property market. The website attracts a significant monthly audience of over 760,000 unique browsers (Source: Nielsen Online Monthly UB, March 2014), with over 130,000 of those visiting from countries outside of NZ. In addition Realestate.co.nz receives over 42% of all traffic to property listings from mobile devices, including their iPhone and Android applications. To date these applications have been downloaded by over 200,000 users making the app the most popular property app in NZ. (popularity based on App Annie report of total downloads of property apps in New Zealand)

nzFarms is a specialist website presenting the most comprehensive selection of farms and agricultural businesses on the market across NZ. At this time it features around 3,000 listings for all types of farms and agricultural land as well as over 10,000 lifestyle properties.

Prime Commercial is a specialist website presenting the most comprehensive selection of commercial property for purchase or lease on the market across NZ. At this time it features over 25,000 listings for all types of properties – retail, commercial, industrial and investment properties.

Prime Business is a specialist website presenting the most comprehensive selection of businesses for sale on the market across NZ. At this time it features over 3,500 listings for all types of businesses – retail, tourism, wholesale as well as franchise opportunities.

Realestate.co.nz is the official online property listing company of the New Zealand real estate industry, currently hosting over 100,000 listings, covering this portfolio of residential property for sale and rent, commercial property for sale and lease, rural properties and farms, as well as businesses for sale. With a subscriber base of over 1,000 offices, the company represents over 97% of all listings from licensed real estate agents in NZ. The full NZ Property Report for March 2014 can be downloaded here (800kb pdf document). Additionally the raw data is accessible here as an Excel spreadsheet enabling anyone to analyse the raw data and establish any trends or observations. Usage rights are governed under attribution to the source of the data being Realestate.co.nz. The next NZ Property Report for March 2014 will be published on this website on 2nd May 2014 at 11am.

By Paul McKenzie, Marketing Manager, Realestate.co.nz

If you have any comments or enquiries about the NZ Property Market or about marketing your property online, please contact me via EmailGoogle, or Twitter

 

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Latest Flyers

Posted on: March 15th, 2014 | Filed in Real Estate Industry News

To help spread the news of our recent successes in NZ, we have two new flyers to show buyers why they should 1. download our app, and 2. look on Realestate.co.nz for their next home.

Download our new flyers now and make sure that you tell everyone about why they should use Realestate.co.nz.

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iPhone DownloadAndroid Download

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Property Report – February 2014

Posted on: March 3rd, 2014 | Filed in Featured, NZ Property Report

blue pen and small houseThe February 2014 NZ Property Report published by Realestate.co.nz provides an insight into the state of the New Zealand property market as measured by the supply side of the property market over the month of February.

A full print version of the NZ Property Report – February 2014 is published below and is available for download (800kb) and distribution.

Summary of the market – February 2014

Sellers set a new record national asking price

CoverPage_Report_Jan14

Seller confidence has driven asking prices of new listings to record levels in February; with the national (seasonally adjusted) mean reaching a new high of 483,099. The rise in asking price was noticeable across more than half of New Zealand, with 11 regions reporting a rise in asking price.

Record high asking prices were also seen in Auckland $667,370 – up 12% Year on Year), Wairarapa ($329,396 – up 24% year on year) and West Coast ($320,245 – up 8% year on year)

Indications of higher buyer demand are already being seen by Realestate.co.nz, website traffic in February reached record levels, with over 1.7 million visits to the Realestate.co.nz sites (Source – Google Analytics). It will be interesting to see how this increase in site traffic translates into sales in the coming months.

However the number of new listings may not keep up with the potential increase in buyer demand, as February saw just 12,167 new homes come on the market, 7% less than the number of new listings seen in February 2013.

Regional Summary – Asking price expectations

Regional map of asking price NZ Property Report Feb 2013

National asking prices reached a new record in February of $483,099 (Seasonally Adjusted Truncated Mean). The record high was driven up by new record asking prices in Auckland ($677,370), where asking prices have risen by 12% in the last 12 months.

Record high asking prices were also seen in 2 other regions in New Zealand; West Coast, where asking prices reached $320,245 (up 13% on February 2013); and Wairarapa where asking prices reached $329,396 (up 24% on February 2013).

In total 11 regions saw asking price increases, with 6 regions reporting asking price increases greater than 5%. Wairarapa reported the largest increase, up 24% from January to $$329,396, followed by Marlbourgh, which rose by 16% to $418,945.

Of the 8 regions witnessing asking price falls from January there was just 1 that reported a fall greater than 5%, Coromandel fell 15%% to $420,759.

Regional Summary – Listings

Regional map of new listings NZ Property Report Feb 2014

February followed seasonal trends, with 12,167 new homes come on the market, an increase of 31% from January.

However the number of homes for sale was lower than predicted and well down on prior years with 16 of the 19 regions seeing a fall in new listings on a year-on-year basis.

Of the 16 regions that reported lower new listings than February last year the most significant fall was seen in Coromandel and Otago, falling 29% and 26% respectively.

There were just 3 regions reporting year on year increase with West Coast reporting the biggest increase of listings (up 21%).

In the main centers, Auckland, and Wellington followed that national trend, Auckland reported 4,098 new listings, down 5% from February 2013, and Wellington reported 1,141 new listings, down 1% from last year.

Bucking the national trend, Canterbury saw a 3% rise in listings, with 1,399 new listings coming on the market.

Regional Summary – Inventory

Regional map of inventory NZ Property Report Feb 14

The level of unsold houses on the market at the end of February (41,731) was up, when compared to January (40,219). The inventory as measured in terms of equivalent weeks of sales fell in February to 25.9 weeks.

The market remains firmly a seller’s market, and inventory on the market remains well below the long-term average of 37 weeks of equivalent sales.

The fall in inventory during the last month was seen in 14 of the 19 NZ regions with record low levels of 44 weeks of stock seen in Central Otago / Lakes, well below the long term average of 91 weeks.

 

For Media Enquiries, please contact:

Paul McKenzie, National Marketing Manager, Realestate.co.nz | +64 21 618 537

Notes:

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.

Background to Realestate.co.nz Realestate.co.nz is the official website company of the real estate industry of New Zealand, it is an industry owned web business providing online marketing services to the real estate industry. The shareholders in the business comprise the REINZ (50%) and five of the largest real estate companies (50%). The business operates a portfolio of websites all focused to specialist sectors of the real estate market:

Realestate.co.nz is the heart of the business and is focused to the residential property market. The website attracts a significant monthly audience of over 654,000 unique browsers (Source: Effective Measure), with over 130,000 of those visiting from countries outside of NZ. In addition Realestate.co.nz receives over 40% of all traffic to property listings from mobile devices, including their iPhone and Android applications. To date these applications have been downloaded by over 198,000 users making the app the most popular property app in NZ. (popularity based on App Annie report of total downloads of property apps in New Zealand)

nzFarms is a specialist website presenting the most comprehensive selection of farms and agricultural businesses on the market across NZ. At this time it features around 3,000 listings for all types of farms and agricultural land as well as over 10,000 lifestyle properties.

Prime Commercial is a specialist website presenting the most comprehensive selection of commercial property for purchase or lease on the market across NZ. At this time it features over 25,000 listings for all types of properties – retail, commercial, industrial and investment properties.

Prime Business is a specialist website presenting the most comprehensive selection of businesses for sale on the market across NZ. At this time it features over 3,500 listings for all types of businesses – retail, tourism, wholesale as well as franchise opportunities.

Realestate.co.nz is the official online property listing company of the New Zealand real estate industry, currently hosting over 100,000 listings, covering this portfolio of residential property for sale and rent, commercial property for sale and lease, rural properties and farms, as well as businesses for sale. With a subscriber base of over 1,000 offices, the company represents over 97% of all listings from licensed real estate agents in NZ. The full NZ Property Report for February 2014 can be downloaded here (800kb pdf document). Additionally the raw data is accessible here as an Excel spreadsheet enabling anyone to analyse the raw data and establish any trends or observations. Usage rights are governed under attribution to the source of the data being Realestate.co.nz. The next NZ Property Report for March 2014 will be published on this website on 2nd April 2014 at 11am.

By Paul McKenzie, Marketing Manager, Realestate.co.nz

If you have any comments or enquiries about the NZ Property Market or about marketing your property online, please contact me via EmailGoogle, or Twitter

 

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Property Report – January 2014

Posted on: February 3rd, 2014 | Filed in Featured, Market News, NZ Property Report, Real Estate Industry News, Regional News

blue pen and small houseThe January 2014 NZ Property Report published by Realestate.co.nz provides an insight into the state of the New Zealand property market as measured by the supply side of the property market over the month of January. The key measures of the market analysed in the report are the number of new listings, the asking price expectation for those new listings and the level of inventory of unsold houses on the market at this time. The report is compiled from data captured by the website and represents close to 97% of all property movements in the NZ market as managed by licensed real estate agents.

A full print version of the NZ Property Report – January 2014 is published below and is available for download (800kb) and distribution.

Summary of the market – January 2014

Growth of new listings seen, as buyer interest surges to record heights

CoverPage_Report_Jan14

The new calendar year starts with a healthy flow of new listings, which will help to meet the rising demand for property that historically is seen in the coming two months of February, and March. In total January had 9,267 new properties come on the market, up 5% from the same time last year. This increase in new listings was apparent across most of New Zealand, with 13 of our 19 regions seeing an increase in listings from January last year.

Early indications of higher buyer demand are already being seen by Realestate.co.nz, website traffic in January hit record levels, with over 1.6 million visits to the Realestate.co.nz sites (Source – Google Analytics). It will be interesting to see how this increase in site traffic translates into sales in the coming months.

Asking prices of new listings rebounded in January, with the national (seasonally adjusted) mean reaching $476,797, just short of the record asking price seen in October last year of $482,063. Record high asking prices were seen in Canterbury ($449,149 – up 11.5% Year on Year) and Otago ($304,720 – up 1.6% year on year).

Asking Price

SA_AskingPrice_Jan14

The seasonally adjusted truncated mean asking price for listings recovered from the fall seen in December, up  5.6% to $476,797 (from December), and represents a 8% growth on January 2013.

The trend seen in the chart opposite, continues to show strenght in seller expectation, on the back of healthy listings, and a strong demand for homes across New Zealand.

Regional Summary – Asking price expectations

Regional map of asking price NZ Property Report Jan 2013

National asking prices recovered in January to $476,797 (Seasonally Adjusted Truncated Mean) from the fall seen in December, nearing record asking prices recorded in October 2013.

Record high asking prices were seen in 2 regions in New Zealand; Canterbury, where the average asking price reached a new high of $449,149 (up 11.5% on January 2013); and Otago, where asking prices reached $304,720 (up 1.6% on January 2013).

In the other main centers, both Auckland and Wellington reported an increase in average asking prices from last month, Auckland rose by 1% to $663,372, and Wellington rose 4.2% to $463,912. Both sit close to the record asking prices set in their respective regions in October 2013.

In total 8 regions saw asking price increases, with 3 regions reporting asking price increases greater than 5%. Coromandel reported the largest increase, up 28.7% from December to $493,934, followed by Waikato, which rose by 9% to $381,413.

Of the 11 regions witnessing asking price falls there were 4 that reported a falls greater than 5%, the most significant falls were recorded in Central Otago / Lakes, Wairarapa, Taranaki, and Hawkes Bay. Central Otago / Lakes fell by 9.2% to $619,516, Wairarapa fell 7.2% to $265,828, Taranaki fell 5.7% to 325,241, and Hawkes Bay fell 5.5% to $331,032.

Regional Summary – Listings

Regional map of new listings NZ Property Report Jan 2014

New listings rose across most of the country in January, with 13 of the 19 regions seeing an increase in listings on a year-on-year basis.

Of the 13 regions that reported higher new listings than January last year the most significant increase in listings was seen in Coromandel, rising 39.8%, Central North Island, which rose by 29%, and Waikato, where listings were up 25% year on year.

Record low numbers of new listings were seen in Gisborne – which had just 52 new homes listed in January.

There were 6 regions reporting year on year decreases with Gisborne reporting the biggest decrease of listings (down 34.2%).

In the main centers, Auckland, Wellington, and Canterbury saw an increase in new listings. Auckland reported 2,723 new listings, up 1.2% from January 2013, Wellington reported 836 new listings, up 5% from last year, and Canterbury, saw a 8% rise in listings, with 1,082 new listings coming on the market.

Regional Summary – Inventory

Regional map of inventory NZ Property Report Dec_2013

The level of unsold houses on the market at the end of January (40,219) was up, when compared to December (38,804). The inventory as measured in terms of equivalent weeks of sales rose in January to 26.8 weeks, recovering to levels not seen since April last year

While this increase in the last month was seen in 13 of the 19 NZ regions, the market remains firmly a seller’s market, and inventory on the market remains well below the long-term average of 37 weeks of equivalent sales.

 

For Media Enquiries, please contact:

Paul McKenzie, National Marketing Manager, Realestate.co.nz | +64 21 618 537

Notes:

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.

Background to Realestate.co.nz Realestate.co.nz is the official website company of the real estate industry of New Zealand, it is an industry owned web business providing online marketing services to the real estate industry. The shareholders in the business comprise the REINZ (50%) and five of the largest real estate companies (50%). The business operates a portfolio of websites all focused to specialist sectors of the real estate market:

Realestate.co.nz is the heart of the business and is focused to the residential property market. The website attracts a significant monthly audience of over 615,000 unique browsers (Source: Google Analytics), with over 130,000 of those visiting from countries outside of NZ. In addition Realestate.co.nz receives over 30% of all traffic to property listings from mobile devices, including their iPhone and Android applications. To date these applications have been downloaded by over 190,000 users making the app the most popular property app in NZ.

nzFarms is a specialist website presenting the most comprehensive selection of farms and agricultural businesses on the market across NZ. At this time it features around 3,000 listings for all types of farms and agricultural land as well as over 10,000 lifestyle properties.

Prime Commercial is a specialist website presenting the most comprehensive selection of commercial property for purchase or lease on the market across NZ. At this time it features over 25,000 listings for all types of properties – retail, commercial, industrial and investment properties.

Prime Business is a specialist website presenting the most comprehensive selection of businesses for sale on the market across NZ. At this time it features over 3,500 listings for all types of businesses – retail, tourism, wholesale as well as franchise opportunities.

Realestate.co.nz is the official online property listing website of the New Zealand real estate industry, currently hosting over 100,000 listings, covering this portfolio of residential property for sale and rent, commercial property for sale and lease, rural properties and farms, as well as businesses for sale. With a subscriber base of over 1,000 offices, the company represents over 97% of all listings from licensed real estate agents in NZ. The full NZ Property Report for January 2014 can be downloaded here (800kb pdf document). Additionally the raw data is accessible here as an Excel spreadsheet enabling anyone to analyse the raw data and establish any trends or observations. Usage rights are governed under attribution to the source of the data being Realestate.co.nz. The next NZ Property Report for February 2014 will be published on this website on 1st March 2014 at 11am.

By Paul McKenzie, Marketing Manager, Realestate.co.nz

If you have any comments or enquiries about the NZ Property Market or about marketing your property online, please contact me via EmailGoogle, or Twitter

 

1

Property Report – December 2013

Posted on: January 8th, 2014 | Filed in Featured, NZ Property Report

blue pen and small houseThe December 2013 NZ Property Report published by Realestate.co.nz provides an insight into the state of the New Zealand property market as measured by the supply side of the property market over the month of December. The key measures of the market analysed in the report are the number of new listings, the asking price expectation for those new listings and the level of inventory of unsold houses on the market at this time. The report is compiled from data captured by the website and represents close to 97% of all property movements in the NZ market as managed by licensed real estate agents.

A full print version of the NZ Property Report – December 2013 is published below and is available for download (2.4mb) and distribution.

Summary of the market – December 2013

2014 starts with lowest number of new listings in 7 years, but an ease in asking prices

CoverPage_Report_Dec13

December traditionally is the quietest month of the year for listing of new properties for sale, however last month we saw a significantly lower number of new listings, and recorded the lowest number of new listings coming to the market in 7 years.

The number of new listings coming to the market in December fell to a new record low, with just 8010 listings coming onto the market, down 6% on the same time last year. This decrease in new listings was particularly apparent in Auckland, Wellington, Otago, Taranaki, and Hawkes Bay where the number of new listings also fell to record low levels.

Asking prices of new listings also eased significantly in December, to $451,448 (down 5.7% from November, but still up 7% year on year). This fall is the biggest we have recorded in the last 7 years. In the main centres, Auckland, and Wellington asking witnessed a fall in December to $656,702 (Auckland), and $445,351 (Wellington). However asking prices in Canterbury rose to a record high of $443,750.

Asking Price

SA_AskingPrice_Dec13

The seasonally adjusted truncated mean asking price for listings fell significantly in December, down 5.7% to $451,448 (from November), but still remained up 6.8% on December 2013.

As can be seen from the chart (right), the fall for the month does not significantly affect the trend line, which continues to show a steady rise over the past 3 years.

New Listings

TotalNewListings_Dec13

The level of new listings coming onto the market in December fell to a record low 8,010 listings from 13,311 in November. This represents a fall of 40%, and is also down 6% when compared to December last year.

For the calendar year of 2013 a total 131,474 new listings came onto the market, as compared to 132,243 in 2012 – a fall of 0.4%. By comparison the prior years stats were 2007: 177,529; 2008: 163,488; 2009: 135,416; 2010: 138,789; 2011 124,748.

So as compared to the peak of the market in 2007 listings are down 26%.

Inventory

InventorySA_MMA_Dec13

The level of unsold homes on the market at the end of December (38,804) remained well down as compared to December last year (42,513), a drop of 9%.

The inventory as measured in terms of equivalent weeks of sales was slightly higher than last month, with 26.3 weeks of stock now available.

The market remains firmly a seller’s market; with 16 of the 19 regions showing inventory levels that are well below long term averages.

Regional Summary – Asking price expectations

Regional map of asking price NZ Property Report Dec_2013

The national (seasonally adjusted) truncated mean asking price expectation among sellers fell by 5.6% in December to an asking price of $451,448.

Record high asking prices were seen in 2 regions in New Zealand; Canterbury, where the average asking price reached a new high of $443,750 (up 14% on December 2012); and Taranaki, where asking prices reached $344,910 (up 22% on December 2012).

In the other main centers, both Auckland and Wellington reported a fall in average asking prices, Auckland fell just 0.4% to $656,702, and Wellington fell 2.7% to $445,351.

In total 10 regions saw asking price increases, with 2 regions reporting asking price increases greater than 5%. Northland reported the largest increase, up 6.5% from November to $422,779, followed by Taranaki, which rose by 5.1% to $344,910.

Of the 8 regions witnessing asking price falls there were 6 that reported a falls greater than 5%, the most significant falls were recorded in Coromandel, Waikato, Marlborough, and Gisborne. Coromandel fell by 13% to $383,684, Waikato fell 10% to $349.928, Gisborne fell 10% to 273,750, and Marlborough fell 10% to 378,485.

Regional Summary – Listings

Regional map of new listings NZ Property Report Dec_2013

New listings fell across most of the country in December to record low levels, with 13 of the 19 regions seeing a decrease in listings on a year-on-year basis.

Of the 13 regions that reported lower new listings than December last year the most significant drop in listings was seen in Taranaki, falling 30.6%, and Northland, which fell by 26.2%

Record low numbers of new listings were seen in Taranaki, Hawkes Bay, Otago, Auckland, and Wellington.

There were 6 regions reporting year on year increases with Gisborne reporting the biggest increase of listings (up 41.9%).

In the main centers, Auckland, and Wellington saw a fall in new listings to record low levels. Auckland reported 1,897 new listings, down 8% from December 2012, and Wellington reported 467 new listings, down 14% from last year. Canterbury, saw a 3% rise in listings, with 987 new listings coming on the market.

Regional Summary – Inventory

Regional map of inventory NZ Property Report Dec_2013

The inventory of unsold homes on the market recovered slightly in December to 26 weeks of equivalent sales.

Market sentiment continues remains firmly in favour of sellers in 16 regions, with the greatest strain continuing to be felt in the 8 regions that are marked in darker blue. This includes the main metro areas of Auckland, Wellington, and Canterbury, which remain under pressure from low listings as measured against sales activity.

Three regions (West Coast, Taranaki, and Southland) showed an increase in inventory of homes on the market, taking them above their respective long-term average.

For Media Enquiries, please contact:

Paul McKenzie, National Marketing Manager, Realestate.co.nz | +64 21 618 537

Notes:

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.

Background to Realestate.co.nz Realestate.co.nz is the official website company of the real estate industry of New Zealand, it is an industry owned web business providing online marketing services to the real estate industry. The shareholders in the business comprise the REINZ (50%) and five of the largest real estate companies (50%). The business operates a portfolio of websites all focused to specialist sectors of the real estate market:

Realestate.co.nz is the heart of the business and is focused to the residential property market. The website attracts a significant monthly audience of over 580,000 unique browsers, with over 130,000 of those visiting from countries outside of NZ. In addition Realestate.co.nz receives over 30% of all traffic to property listings from mobile devices, including their iPhone and Android applications. To date these applications have been downloaded by over 185,000 users making the app the most popular property app in NZ.

nzFarms is a specialist website presenting the most comprehensive selection of farms and agricultural businesses on the market across NZ. At this time it features around 3,000 listings for all types of farms and agricultural land as well as over 10,000 lifestyle properties.

Prime Commercial is a specialist website presenting the most comprehensive selection of commercial property for purchase or lease on the market across NZ. At this time it features over 25,000 listings for all types of properties – retail, commercial, industrial and investment properties.

Prime Business is a specialist website presenting the most comprehensive selection of businesses for sale on the market across NZ. At this time it features over 3,500 listings for all types of businesses – retail, tourism, wholesale as well as franchise opportunities.

Realestate.co.nz is the official online property listing website of the New Zealand real estate industry, currently hosting over 110,000 listings, covering this portfolio of residential property for sale and rent, commercial property for sale and lease, rural properties and farms, as well as businesses for sale. With a subscriber base of over 1,000 offices, the company represents over 97% of all listings from licensed real estate agents in NZ. The full NZ Property Report for December 2013 can be downloaded here (2.1mb pdf document). Additionally the raw data is accessible here as an Excel spreadsheet enabling anyone to analyse the raw data and establish any trends or observations. Usage rights are governed under attribution to the source of the data being Realestate.co.nz. The next NZ Property Report for January 2013 will be published on this website on 1st February 2013 at 11am.

By Paul McKenzie, Marketing Manager, Realestate.co.nz

If you have any comments or enquiries about the NZ Property Market or about marketing your property online, please contact me via EmailGoogle, or Twitter

 

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12 Properties for Christmas – Day 12

Posted on: December 25th, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

When I think back over the places that have helped shape Christmas and summer holidays for me, I always come back to Kuaotunu in the Coromandel.  The fun we had in and around here is the stuff of dreams, the dreams I have for my kids.  Take your pick; north facing, sun, sand, surf, diving, fishing, exploring, great mountains, forests, caves, New Chums, bonfires, beach cricket. The list of summer fun options goes on and on.

On Christmas my true beloved gave to me … a family home where memories are so strong.  This is a place that brings family closer, and will draw friends from afar.  Merry Christmas everyone.

Brought to you by Mark Hall of Matarangi Beach Realty

 

12 Properties for Christmas

Day 1:  Private cliff top paradise (Orewa)

Day 2:  Lakeside Art Nouveau (Hamilton)

Day 3:  Unsurpassed Views And Lifestyle (Cromwell)

Day 4:  Auckland City Luxury Apartment (Auckland)

Day 5:  French Inspiration (Akaroa)

Day 6:  Queenstown Dreamer (Wakatipu Basin)

Day 7:  Absolute Beachfront (Gisborne)

Day 8:  Luxury on Lake Rotoiti (Rotorua)

Day 9:  Taupo Bay Waterfront Bach (Northland)

Day 10:  Stewart Island beach front

Day 11:  Views to die for (Muriwai)

Day 12:  Beach Front Kuaotunu (Coromandel)

Merry Christmas and Happy New Year from the team at Realestate.co.nz.

Phil

Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

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12 Properties for Christmas – Day 11

Posted on: December 24th, 2013 | Filed in Featured, Other interesting reads:, The lighter side

The night before Christmas and all is calm.  I so want for Christmas a place that is not too far away, near a beach, views galore, maybe a golf course, forests and more.  How about this recently listed gem at Muriwai.

12 Properties for Christmas

Day 1:  Private cliff top paradise (Orewa)

Day 2:  Lakeside Art Nouveau (Hamilton)

Day 3:  Unsurpassed Views And Lifestyle (Cromwell)

Day 4:  Auckland City Luxury Apartment (Auckland)

Day 5:  French Inspiration (Akaroa)

Day 6:  Queenstown Dreamer (Wakatipu Basin)

Day 7:  Absolute Beachfront (Gisborne)

Day 8:  Luxury on Lake Rotoiti (Rotorua)

Day 9:  Taupo Bay Waterfront Bach (Northland)

Day 10:  Stewart Island beach front

Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

 

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12 Properties for Christmas – Day 10

Posted on: December 24th, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

Christmas time for some is a time to get away and escape hustle and bustle of busy lives.  There is a need to get away from it all, and if that’s the case then why not look south, all the way south.  A couple of days before Christmas my true love gave to me … a cosy home in Horseshoe Bay on Stewart Island.

12 Properties for Christmas

Day 1:  Private cliff top paradise (Orewa)

Day 2:  Lakeside Art Nouveau (Hamilton)

Day 3:  Unsurpassed Views And Lifestyle (Cromwell)

Day 4:  Auckland City Luxury Apartment (Auckland)

Day 5:  French Inspiration (Akaroa)

Day 6:  Queenstown Dreamer (Wakatipu Basin)

Day 7:  Absolute Beachfront (Gisborne)

Day 8:  Luxury on Lake Rotoiti (Rotorua)

Day 9:  Taupo Bay Waterfront Bach (Northland)

Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

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12 Properties for Christmas – Day 9

Posted on: December 23rd, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

Who out there has been to Taupo Bay in the Northland?  Our family stopped here one summer many moon ago en route to Cape Reinga, returned to camp and play the next year.  Took my wife here after we returned from the UK.  3 days out from Christmas will my wife now gift this true Waterfront Kiwi bach to our family!

This is as traditional as you get, check out the formica bench-top.  800 square metres of absolute beach front.  You are half an hour by car to Whangaroa Harbour and Kaeo and 15 minutes by boat to the harbour-side hideaway that is Kingfisher Lodge.  If beaches and the ocean are your playground you’ll love Taupo Bay.  The fishing is amazing the people warm and welcoming.

 

12 Properties for Christmas

Day 1:  Private cliff top paradise (Orewa)

Day 2:  Lakeside Art Nouveau (Hamilton)

Day 3:  Unsurpassed Views And Lifestyle (Cromwell)

Day 4:  Auckland City Luxury Apartment (Auckland)

Day 5:  French Inspiration (Akaroa)

Day 6:  Queenstown Dreamer (Wakatipu Basin)

Day 7:  Absolute Beachfront (Gisborne)

Day 8:  Luxury on Lake Rotoiti (Rotorua)

Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

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12 Properties for Christmas – Day 8

Posted on: December 20th, 2013 | Filed in Featured, Other interesting reads:, The lighter side, Uncategorized

Rotorua may be famous as a geothermal wonderland, and for its forests and bike tracks, the luge and trout farms.  But just outside Rotorua are a collection of 18 sparkling lakes that serve everyone from the fast paced water sports enthusiasts to fisherman and adventurers of every shape and size.  There can be no favourites within the Rotorua lakes, they all have something to capture the imagination and leave a lasting impression.

On the 5th day before Christmas, my true love gifted to me … a beautiful lake-edge home on Rotoiti at Okere Falls.

With the Okere Falls only 400m as the crow flies, your own boat shed on Lake Rotoiti and the, only accessible by boat, Manupiria Hot Springs near by, you’ll find it hard not to think twice about this place.  Check out the video, I could be here in a jiffy.

12 Properties for Christmas

Day 1:  Private cliff top paradise (Orewa)

Day 2:  Lakeside Art Nouveau (Hamilton)

Day 3:  Unsurpassed Views And Lifestyle (Cromwell)

Day 4:  Auckland City Luxury Apartment (Auckland)

Day 5:  French Inspiration (Akaroa)

Day 6:  Queenstown Dreamer (Wakatipu Basin)

Day 7:  Absolute Beachfront (Gisborne)

Phillip Dunn
Acting CEO
nz.linkedin.com/in/phillipnz

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