Comments on: Are “Boom Times” back for real estate? http://unconditional.co.nz/blog/are-boom-times-back-for-real-estate/ What's really going on in realestate Thu, 18 Mar 2010 08:57:32 +1300 http://wordpress.org/?v=2.8.4 hourly 1 By: Alistair Helm http://unconditional.co.nz/blog/are-boom-times-back-for-real-estate/comment-page-1/#comment-2683 Alistair Helm Tue, 17 Nov 2009 17:01:37 +0000 http://www.unconditional.co.nz/blog/?p=4541#comment-2683 Mainlander I think I can see the question you raise, however I would like to clarify and reinforce there is not a double standard. The Westpac report states that the number of houses listed on the market has fallen. I say no. I base this on the facts in the NZ Property Report for October which showed that the number of listings in October was higher than September - fact. In addition I make point to the fact that inventory as measured in equivalent weeks of sales rose in October. For clarification I did make the comment in that report that on a comparable basis this year has seen a lower seasonal lift in new listings - this I would judge to indicate that the market is not in a boom - further strengthening the argument I have to the data set used to justify the Westpac report claims. I hope that provides clarity around the message of this blog post and the report. Mainlander

I think I can see the question you raise, however I would like to clarify and reinforce there is not a double standard.

The Westpac report states that the number of houses listed on the market has fallen. I say no. I base this on the facts in the NZ Property Report for October which showed that the number of listings in October was higher than September – fact. In addition I make point to the fact that inventory as measured in equivalent weeks of sales rose in October.

For clarification I did make the comment in that report that on a comparable basis this year has seen a lower seasonal lift in new listings – this I would judge to indicate that the market is not in a boom – further strengthening the argument I have to the data set used to justify the Westpac report claims.

I hope that provides clarity around the message of this blog post and the report.

]]> By: Mainlander http://unconditional.co.nz/blog/are-boom-times-back-for-real-estate/comment-page-1/#comment-2684 Mainlander Tue, 17 Nov 2009 11:23:42 +0000 http://www.unconditional.co.nz/blog/?p=4541#comment-2684 As I have noted over recent months, and am happy to admit your comments seem to lend a neutral basis to the overall "Press" generated housing market sentiment. I am curious though about your statement referencing number of houses on the market falling...and in yr words ...."wrong"....I forward the fact that even yr own property report suggests otherwise regarding falling numbers as evidenced by your Property report associated graphics. Why the difference? A double standard? As I have noted over recent months, and am happy to admit your comments seem to lend a neutral basis to the overall “Press” generated housing market sentiment. I am curious though about your statement referencing number of houses on the market falling…and in yr words ….”wrong”….I forward the fact that even yr own property report suggests otherwise regarding falling numbers as evidenced by your Property report associated graphics. Why the difference? A double standard?

]]> By: Greig Metcalfe http://unconditional.co.nz/blog/are-boom-times-back-for-real-estate/comment-page-1/#comment-2660 Greig Metcalfe Mon, 16 Nov 2009 01:49:43 +0000 http://www.unconditional.co.nz/blog/?p=4541#comment-2660 Thanks for taking on the banks in particular Westpac - they seem to come out with this sort of sensational headline everytime they want some media coverage. In Hamilton the market has slowed to an 8 month low of 214 sales in October down from the best month of the year April with 259 for more detail on Hamilton see my http://www.unconditional.co.nz/greigs/2009/11/16/hamilton-housing-market-crashes-in-october/blog Thanks for taking on the banks in particular Westpac – they seem to come out with this sort of sensational headline everytime they want some media coverage.

In Hamilton the market has slowed to an 8 month low of 214 sales in October down from the best month of the year April with 259 for more detail on Hamilton see my http://www.unconditional.co.nz/greigs/2009/11/16/hamilton-housing-market-crashes-in-october/blog

]]> By: Alistair Helm http://unconditional.co.nz/blog/are-boom-times-back-for-real-estate/comment-page-1/#comment-2663 Alistair Helm Sat, 14 Nov 2009 18:34:57 +0000 http://www.unconditional.co.nz/blog/?p=4541#comment-2663 Steve Good to have your comments - has been a while and thanks for those words. It has always been the intent of the blog to offer an impartial perspective; for me that has maybe taken a time to establish and build confidence in establishing. I must look out for this book - Peter Schiff is certainly highly referenced in his prediction of the great recession. Steve

Good to have your comments – has been a while and thanks for those words.

It has always been the intent of the blog to offer an impartial perspective; for me that has maybe taken a time to establish and build confidence in establishing.

I must look out for this book – Peter Schiff is certainly highly referenced in his prediction of the great recession.

]]> By: Steve Netwriter http://unconditional.co.nz/blog/are-boom-times-back-for-real-estate/comment-page-1/#comment-2662 Steve Netwriter Sat, 14 Nov 2009 05:17:46 +0000 http://www.unconditional.co.nz/blog/?p=4541#comment-2662 Hi Alistair, It's been a while. Of course there are vested interests. Those who have reason to positively promote a bullish housing market. Among those are banks and real estate agents. In this case, I must commend you and your article for its lack of bias. By the way, if you haven't, I thoroughly recommend Peter Schiff's book "Crash Proof". There is a new 2009 version out. It's amazingly insightful with respect to economics, and housing markets. Steve Hi Alistair,
It’s been a while.
Of course there are vested interests. Those who have reason to positively promote a bullish housing market.
Among those are banks and real estate agents.

In this case, I must commend you and your article for its lack of bias.

By the way, if you haven’t, I thoroughly recommend Peter Schiff’s book “Crash Proof”. There is a new 2009 version out.
It’s amazingly insightful with respect to economics, and housing markets.
Steve

]]> By: Ross http://unconditional.co.nz/blog/are-boom-times-back-for-real-estate/comment-page-1/#comment-2661 Ross Fri, 13 Nov 2009 20:47:17 +0000 http://www.unconditional.co.nz/blog/?p=4541#comment-2661 The property market is not one homogenous market. In some areas, Westpac's predictions may come true but are less likely to be true for other areas. That's an issue when we look at averages. The property market is not one homogenous market. In some areas, Westpac’s predictions may come true but are less likely to be true for other areas. That’s an issue when we look at averages.

]]> By: Alistair Helm http://unconditional.co.nz/blog/are-boom-times-back-for-real-estate/comment-page-1/#comment-2665 Alistair Helm Thu, 12 Nov 2009 17:27:03 +0000 http://www.unconditional.co.nz/blog/?p=4541#comment-2665 Russell The full details for October are provided in the NZ Property Report for October as published on this blog on 1st November. A quick check reveals that for the first 13 days of November we have seen 6,525 new residential listings come onto the site - the same period in 2008 saw 6,059 - an 8% increase. A key point is that November 2008 was the point at which the NZ property market turned as sales had been so low that listings started to dry up - November is normally one of the two highest months and usually higher than October - not so last year. By comparison the same figure of new listings in the first 13 days of November 2007 was 7,615. Russell

The full details for October are provided in the NZ Property Report for October as published on this blog on 1st November.

A quick check reveals that for the first 13 days of November we have seen 6,525 new residential listings come onto the site – the same period in 2008 saw 6,059 – an 8% increase.

A key point is that November 2008 was the point at which the NZ property market turned as sales had been so low that listings started to dry up – November is normally one of the two highest months and usually higher than October – not so last year.

By comparison the same figure of new listings in the first 13 days of November 2007 was 7,615.

]]> By: Russell http://unconditional.co.nz/blog/are-boom-times-back-for-real-estate/comment-page-1/#comment-2664 Russell Thu, 12 Nov 2009 09:11:25 +0000 http://www.unconditional.co.nz/blog/?p=4541#comment-2664 Can you advise how many properties are being addded to realestate.co.nz each day/week over Oct/Nov and how does that compare with last year. Of most interest would be the first 14 days of November. Can you advise how many properties are being addded to realestate.co.nz each day/week over Oct/Nov and how does that compare with last year.

Of most interest would be the first 14 days of November.

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