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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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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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Savvy home buyers turning to mobile apps to get ahead

Posted on: July 1st, 2015 | Filed in Buying / Selling a home, Featured

Yahoo1200x627

The house hunting process has changed drastically in recent years with the rise of the Internet and the power of mobile. Buyers are equipping themselves with the best tools on offer to secure their slice of the pie.

Serious home buyers are turning to mobile apps to browse listings straight from their smartphone or tablet, more so than their computer. According to Brendon Skipper, CEO of Realestate.co.nz, “Mobile app users have increased by 45% since the same time last year, and we’ve found they’re visiting the app more than twice as often as desktop users are visiting the site.”

The ability for Realestate.co.nz app users to check listings at any time of the day, and from anywhere is a gamechanger in a market where getting in quick can be the difference between finding your dream property and missing out.

6 smartphone tips to get ahead when house hunting:

1. Setting up ‘Saved Searches and Alerts’ on Realestate.co.nz means you’ll receive automatic updates to your inbox when properties that meet your set criteria are listed.

2. Saving properties of interest in ‘My Properties’ means you can easily refer back to them later.

3. When planning your weekend of viewings, add open home times directly to your smartphone’s calendar via the Realestate.co.nz app. This way you won’t miss out on any viewings, or double-book yourself. You can also use Google Maps to find the shortest distance between all your open home locations and have it saved, creating a handy itinerary to work from.

4. To avoid frustration, keep your phone charged when you are out and about. Invest in a car charger or a portable charger, download a power saving app (click here for IOS and here for Android) and turn off features such as Bluetooth that drain your battery.

5. Keep both visual and written notes to help stay on top of your options. After a long day of house hunting, all the properties you’ve seen can blur into one. Taking photos and notes while the details are still fresh in your mind is a simple way of staying on track.

6. If you’ve got an hour to kill between open homes, check out the properties near you by clicking on ‘Map’ in the Realestate.co.nz app. You might just stumble upon an unexpected opportunity, or at the very least, get to know the area a bit better.

 

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Aucklanders viewing properties elsewhere

Posted on: June 15th, 2015 | Filed in Featured, NZ Property Report

AUCKLAND, 3 June 2015 – Aucklanders are significantly more interested in properties outside their region compared to the same time last year, according to the latest data from Realestate.co.n  z, the website with the most property listings in New Zealand.

“The number of people from Auckland looking at properties in otherparts of the country has increased significantly over the year frProperty_Asking_Price_Map_MAY_2015om last May. This is a dramatic change in online searching behaviour, which could well be driven by record high property prices in Auckland,” says Brendon Skipper, CEO of Realestate.co.nz.

Properties for sale in Hawke’s Bay have attracted the greatest increase in levels of interest, with 152.2% more Aucklanders looking at properties in that region compared to the same month last year. Other regions which have seen a jump in interest from Aucklanders include Manawatu/Wanganui (+123.4%), Waikato (+113.8%), Northland (+85.5%) and the Bay of Plenty(+83.5%).

While Aucklanders are spreading the net wider when they look for property, offshore Asian investors appear to be showing less interest than before in the country’s property market, with 20% fewer viewers from Asian countries looking at New Zealand properties online this May, compared to the same month last year. However, this decrease is largely offset by a 19.9% increase in interest from investors elsewhere in the world, particularly from Australia, the USA and the UK.

Average asking price in Auckland stabilises

Meanwhile, asking prices for houses in Auckland stabilised in May, according to Realestate.co.nz. The average asking price in the city was $793,260, which is a marginal increase of 0.5% from the record high in April.

However, significant increases in asking price in a number of other regions across the country in May pushed the national average asking price to a new all-time high of $532,638, an increase of 2.1% on the previous record set in April. The biggest jump was recorded in Central OtaTotal_NewProperty_Listing_Map_MAY_2015go, where the average asking price in May was $699,435, up 15.7% from April. Other regions with big increases include Southland (up 12.5%, to $261,598), West Coast (up 11.3%, to $298,130), Bay of Plenty (up 5.5%, to $466,222), and the Coromandel (up 5.2%, to $518,303). Bucking this trend were Gisborne and Marlborough, where the average asking price decreased notably, by 8.7% and 6.6% respectively.

Fewer homes listed for sale

There were 10,381 new listings nationwide in May, which was 3.4% less than the same time last year. Despite the national decrease, listings in some regions did increase, such as Auckland (3,769 new listings, up 2.9% compared to May 2014), Canterbury (1,319, up 1.8%), Waikato (740, up 4.4%), Taranaki (259, up 13.6%), Central North Island (182, up 52.9%) and West Coast (64, up 12.3%).

The national average in overall inventory of available housing stock for sale fell to an all-time low of only 20 weeks in May, breaking the record of 21.3 weeks set just the month before. 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 long-term national average, since January 2007, is 35 weeks.

 ENDS

 2015-06-15_1528 2015-06-15_1529  2015-06-15_1529_0012015-06-15_1530

For media enquiries, please contact:

Eugene Afanassiev, Camino public relations           Vanessa Taylor, Realestate.co.nz

T: +64 21 0290 7045                                                      T: +64 275 760 260

E: eugenea@camino.co.nz                                            E: vanessa@realestate.co.nz

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 120,000 properties each year, representing more than 97 per cent of all listings currently marketed by real estate professionals.

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

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Average national asking price in April climbs to new national record of $521,729, while new listings and total inventory plummet

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

Auckland average asking price inches up to new high of $789,581

AUCKLAND, 1 May 2015 – The New Zealand property market in April continued the trend of the last four consecutive months with yet another increase in average asking price, creating a new record of $521,729, an increase of 1.4% on the previous month. Property_asking_price_map_april_2015

 

The latest monthly property data from Realestate.co.nz showed that Auckland, where the average asking price rose by 3% to a new high of $789,581, continued to be the main driver in the overall national increase – no other region experienced a new record in average asking price in April.

 

In fact, most parts of New Zealand experienced either little change or decreases in average asking price during the month. In Wellington the average asking price dropped slightly by 1.4% to $455,611, while Canterbury also experienced a small decrease of 0.8% to $463,175. The biggest drops occurred in Central Otago where the average asking price in April fell by 17.3% to $604,729, while the average in Southland fell by 11% to $232,549.

 

Significantly, the number of new listings was the lowest recorded for April by Realestate.co.nz, with only 9,673 coming on to the market, a fall of 5.6% on the same time last year, and a decrease of 18% from March. In addition, the national average in overall inventory* of available housing stock for sale fell to an all time low of only 21.3 weeks in April. The previous record low of 21.4 weeks was set in January, while the long-term national average is 36 weeks.

 

CEO of Realestate.co.nz, Brendon Skipper says, “The drop in listings coupled with the record low total inventory shows that sellers in many parts of New Zealand are experiencing very favourable conditions. As a result, robust average asking prices continue to be maintained at record levels, and the market appears to be meeting them.”

 

A full copy of this release is available here.

 

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.

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 120,000 properties each year, representing more than 97 per cent of all listings currently marketed by real estate professionals.

 

* Inventory is expressed as a theoretical measure of the number of weeks it would take to sell all unsold housing stock on the market at a given point in time, which includes all active listings of homes for sale no matter when they were first listed.

 NZ_inventory_of_listings_chart_April_2015

For media enquiries, please contact:

 

Brendon Skipper, CEO

Realestate.co.nz

T: +64 21 542 607

E: brendon@realestate.co.nz

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Surging asking prices in March break new national record for third consecutive month, while new listings fall

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

Canterbury and Auckland lead regions in record asking price

AUCKLAND, 1 April 2015 – The average asking price of homes for sale in New Zealand in March reached a new high of $514,712, the third consecutive month of record asking prices. The latest monthly property data from Realestate.co.nz also showed that the number of new listings in March was 11,870, a decline of 4.9% from the same time last year, and the lowest for March since 2009.

•	Property Asking Price  - March 2015

The new national high in average asking price of $514,712 was a small increase of 0.6% on the previous record of $511,412 set last month. The growth in asking prices in March was also reflected in different parts of the country with three regions experiencing new records, including Canterbury and Auckland.

 

The new high of $467,126 in Canterbury was a 1.3% increase from the previous record of $461,032 set in July last year, while Auckland’s new high of $766,912 was a 0.3% increase from the previous record of $764,424 reached last month. In addition, the Wairarapa also experienced a new high in average asking price of $357,949. The average asking price in Wellington during March 2015 was $461,905, which is 1.6% below the all time high of $469,487 set a year ago in March 2014.

 

CEO of Realestate.co.nz, Brendon Skipper says, “there is no let up in the increase in asking price, especially with regions such as Canterbury and Auckland experiencing new highs. With the slight fall in the number of new listings in March, sellers are in a good position to maximise the value of their homes.”

•	New Property Listings – March 2015The number of new listings of homes for sale across New Zealand in March was 11,870, a decrease of 4.9% from the same month last year, and a fall of 1.1% on the 12,008 new listings in February. This is the lowest number of new listings for the month of March since the 11,456 recorded six years ago in March 2009. While Canterbury saw an increase of 3.8% on the number of new listings from March last year, both Auckland and Wellington experienced falls of 5.2% and 9.2% respectively.

 

The national average in overall inventory* of available housing stock for sale fell slightly to 23 weeks in March, close to the record low level set in January of 21.4 weeks. “The long-term national average is 36 weeks of stock. Many regions are experiencing low inventory levels, including the three major cities,” says Brendon Skipper.

•	NZ Inventory – March 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 120,000 properties each year, representing more than 97 per cent of all listings currently marketed by real estate professionals.

 

* Inventory is expressed as a theoretical measure of the number of weeks it would take to sell all unsold housing stock on the market at a given point in time, which includes all active listings of homes for sale no matter when they were first listed.

 

For media enquiries, please contact:

Brendon Skipper, CEO
Realestate.co.nz
T: +64 21 542 607
E: brendon@realestate.co.nz

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Inventory of homes for sale falls while asking prices remain high

Posted on: January 7th, 2015 | Filed in Featured, NZ Property Report

House sellers benefit further as inventory of homes for sale falls while asking prices remain high

Map1_Regional_map_of_asking_price_NZ_Property_Report_Dec14The average asking price of houses for sale in December remained at high levels across the country, while inventory of available homes for sale declined reaching record low levels in Auckland. Overall, the latest monthly data from Realestate.co.nz indicates that the NZ property market continues to favour sellers, and increasingly so.

While the national average asking price in December of $480,815 was slightly down on November, a fall of 3.4%, it was still 7% up on the same time a year ago. Meanwhile in Auckland, the average asking price of $731,083 was only marginally below the all time record of $731,588 set in November. The December average asking prices in Wellington and Canterbury were $462,511 and $450,919 respectively.

The more dramatic indice in December was the shrinking inventory of homes for sale across the country, which fell to its lowest level since November 2013.

Inventory is expressed as a theoretical measure of the number of weeks it would take to sell all unsold housing stock on the market at a given point in time. The long-term national average is 36 weeks, however in December inventory fell to just 24.5 weeks of stock, with 15 of 19 regions experiencing falls in available property levels.

Auckland drove the fall in inventory, registering an all time low of 10.8 weeks of stock in December, a 21% fall on November, and a 13% drop on the same month in 2013. Bay of Plenty also saw a new record low of 31 weeks.

Map2_Regional_map_of_new_listings_NZ_Property_Report_Dec14The CEO of Realestate.co.nz Brendon Skipper says “the shortage in the number of homes for sale, especially in the three main centres, underlines the favorable environment house sellers enjoy as they seek to maximise the value of their homes on the property market. In total we now have just 37,537 homes for sale in New Zealand, which is the lowest since September 2013.”

As per the seasonal trend, December was a quiet month for new listings with just 8,283 new homes coming on the market across the country, 39% down on November though slightly up, by 3.4%, on the same month in 2013.

The total of number of homes that were listed for sale in 2014 was 128,049, which was 2.8% down on 2013.

“The number of new listings tends to remain low through January, however we do expect to see a significant lift of homes coming on to the market in February and March this year, which will help to ease the current low levels of inventory that we are experiencing,” says Mr Skipper.

 

Other Graphs:
SA_AskingPriceTotalNewListings

InventorySA_MMAMap3_Regional_map_of_inventory_NZ_Property_Report

 

For Media Enquiries, please contact:

Brendon Skipper, CEO, Realestate.co.nz | +64 21 542 607

A full copy to the Press Release is available here – download now.

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.

Methodology The realestate.co.nz data 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 11,000 new listings, the realestate.co.nz data provides the largest monthly sample on the residential property market.

Seasonally adjustment The core data 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 Ltd 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.  The raw property report 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.

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National average asking price reaches record high of $497,840

Posted on: December 4th, 2014 | Filed in Featured, NZ Property Report, Property Investing

November saw a 1.9% increase over the previous month in the national average asking price of homes for sale, reaching an all-time high of $497,840. In addition, the number of new property listings remains high with 13,512 new listings in November, a 2% lift on the same month last year. The November property data was released today by Realestate.co.nz, the website with New Zealand’s largest number of homes for sale.

“The New Zealand property market continues to be robust, with a very healthy number of new listings heading into summer. The new all-time high in the average asking price reflects the confidence of vendors across the country, rather than one particular region,” says Marketing Manager for Realestate.co.nz, Paul McKenzie.

The asking price of homes for sale rose in nine out of 19 regions across the country, with no one single region reaching an all-time high in its own right. However, some parts of New Zealand experienced significant jumps which contributed to the new all-time national high. In particular, the Central Otago/Lakes district saw a 12% surge in asking price from the previous month, reaching $747,781. The Waikato experienced an 8.2% increase, rising from $361,512 to $391,137. Other regions which saw big jumps in asking price in November included the Wairarapa (5.9%), Northland (5.4%) and Taranaki (5.1%).

The average asking price in Auckland also climbed in November by 4.9% back to near record levels, reaching $731,588, while Wellington and Canterbury stayed at the same high levels achieved in the preceding months, experiencing average asking prices of $463,925 and $454,305 respectively.

The number of new listings in November is higher than the same time last year. In particular, Canterbury saw a significant jump of 16.8% from November last year, with 1,829 new listings of homes for sale. New listings in Wellington also climbed significantly by 10.1% to 1,222. Other regions which experienced big jumps in new listings included Manawatu/Wanganui (20%), Southland (19.7%), Central Otago/Lakes (13.6%) and the Waikato (4.9%).

Other Graphs:
SA_AskingPriceTotalNewListings

InventorySA_MMAMap3_Regional_map_of_inventory_NZ_Property_Report

 

For Media Enquiries, please contact:

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

A full copy to the Press Release is available here – download now.

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.

Methodology The realestate.co.nz data 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 11,000 new listings, the realestate.co.nz data provides the largest monthly sample on the residential property market.

Seasonally adjustment The core data 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 Ltd 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.  The raw property report 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.

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 Google, or Linkedin

 

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Surge of new listings on the home market

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

The number of new listings on the residential property market surged by 32% in October after a slowish September. Figures released by Realestate.co.nz, New Zealand’s largest online database of homes for sale, show that 13,765 new homes came onto the market in October.

With the election, we didn’t see the usual spring rise in homes for sale, but the strong rise in October brings us back close to long-term figures.

After this market correction, both the total number of new homes listed and the average asking price is now close to what it had been a year ago. The New Zealand home market has 1.5% fewer new listings on the market than at the corresponding time last year, with an average asking price of $488,393 – only 1.3% higher than in October 2013. The record national average asking price of $490,550 was recorded in June this year. The average asking price in Auckland remains high though, at just under $700,000.

The total number of homes for sale nationally is 39,917, compared to 38,557 a year ago. While the number of homes on the Auckland market is slightly lower than in October 2013, the figures for other major regions have risen significantly. In Wellington 2647 homes are now for sale, versus 2357 the previous year, an increase of more than 11%. The number of homes for sale in Canterbury rose from 3132 to 3679, up 15%. Waikato has 18% more homes for sale than the year before – 3549 compared to 2916. In Manawatu/Wanganui, the number of homes for sale rose from 2089 to 2706, an increase of 23%.

Not only are there more homes for sale, there seems to be more people wanting homes.

Based on the number of visitors to our site, buyer interest is strong at the moment. This October, we’ve had 78% more daily unique browsers * than a year ago. As home buyers increasingly recognise that Realestate.co.nz is the premier website for the real estate market, the number of visitors to the site keeps increasing strongly.

Not only have we seen a significant lift in site visits, but we have also seen a 40% lift in listing email enquiries over the last year, a further indication that buyer interest is strong.

* Based on Nielsen Market Intelligence – October 2013 vs. Oct 2014.

Other Graphs:
SA_AskingPriceTotalNewListings

InventorySA_MMAMap3_Regional_map_of_inventory_NZ_Property_Report

 

For Media Enquiries, please contact:

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

A full copy to the Press Release is available here – download now.

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.

Methodology The realestate.co.nz data 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 11,000 new listings, the realestate.co.nz data provides the largest monthly sample on the residential property market.

Seasonally adjustment The core data 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 Ltd 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.  The raw property report 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.

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 Google, or Twitter

 

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Property prices rising slower this year

Posted on: October 6th, 2014 | Filed in Featured, NZ Property Report

Map1_Regional_map_of_asking_price_NZ_Property_Report_Sept2014The strong rise in property asking prices has slowed down markedly in recent months. Over the last year, the national asking price for properties increased by only 3.9%, compared to an 8.7% increase in the preceding year.

At the same time, the available inventory of homes for sale remains well below the long-term average. The number of homes for sale in New Zealand has been below the long-term average since January 2012. This is especially apparent in Auckland, where the inventory sits at 15 weeks of available stock, well below the long-term average inventory of 27 weeks. This means that if no new listings appear and sales continue at the current rates, it would take only 15 weeks for all available Auckland homes on the market to be sold.

Map2_Regional_map_of_new_listings_NZ_Property_Report_Sept2014Usually at this time of year, the number of new listings increases strongly every month. While the usual spring trend is evident again, the increases are not as dramatic as in previous years. “The number of new listings in August was lower than the norm, and it’s the same again in September, with 10,408 homes coming onto the market. However, new listings often peak in October and November, and we still expect a marked increase in the supply of homes for sale over the coming months,” says McKenzie.

Even though asking prices for properties are no longer rising at the same high rate as before, the prices are still growing and remain at a high level. Nationally, the average asking price of $484,791 is still close to the record of $490,550 set in June this year.

The average asking price in Waikato is virtually identical to the record of nearly $395,000 set in July, while the price in Auckland is once again above $700,000, exceeding that monthly mark for only the third time. Unlike the rest of the country, the average asking price is still rising strongly in Auckland, where home-owners now expect to sell their properties for 10% more than a year ago.

Despite the high prices and relatively low number of homes on the market, buyer interest remains strong. Last month, Realestate.co.nz had 75% more* unique daily visitors in September compared to a year ago

Realestate.co.nz is in the best position to track the available inventory and asking price variations, as Realestate.co.nz has over 20% more homes for sale on our database than their closest New Zealand competitors. This includes 96% of all homes listed through real estate agents in the country

* Based on Nielsen Average Daily UB comparison Sept 2013 – Sept 2014

Other Graphs:
SA_AskingPriceTotalNewListings

InventorySA_MMAMap3_Regional_map_of_inventory_NZ_Property_Report

 

For Media Enquiries, please contact:

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

A full copy to the Press Release is available here – download now.

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.

Methodology The realestate.co.nz data is compiled from new listings coming onto the market from the more than 1,000 licensed real estate offices across NZ, representing more than 96% of all offices. With an average monthly level of over 11,000 new listings, the realestate.co.nz data provides the largest monthly sample on the residential property market.

Seasonally adjustment The core data 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 Ltd 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.  The raw property report 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.

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 Google, or Twitter

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