The Unconditional Blog

The impartial voice of the industry

 
0

Canterbury Property Pulse factsheet – October 2011

Posted on: November 28th, 2011 | Filed in Canterbury Property Market Factsheet

The Canterbury region property pulse factsheet for October 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales across the Canterbury region at 665 fell in the month on a seasonally adjusted basis in October, but were up a significant 33% as compared to a year ago. The inventory of unsold houses on the market fell further to 25 weeks, well below the long-term average of 33 weeks of equivalent sales.

The stratified mean sales price for properties sold in Christchurch at $349,025 was up 3% as compared to a year ago, but down from the prior month. The asking price expectation of new listings was up by 3% as compared to a year ago at $372,616.

The level of new listings coming onto the market in October at 1,293 was down on prior month and down 1% as compared to a year ago.

0

West Coast Property Pulse factsheet – October 2011

Posted on: November 28th, 2011 | Filed in West Coast Property Market Factsheet

The West Coast district region property pulse factsheet for October 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales on the West Coast of the South Island at 31 in the month fell significantly on a seasonally adjusted basis in October and was down 6% as compared to a year ago. The inventory of unsold houses on the market fell again dramatically to 78 weeks, well below the long-term average of 106 weeks of equivalent sales.

Median sales price of properties sold on the West Coast at $170,000 was down a significant 24% as compared to a year ago and down on the prior month. The asking price expectation of new listings though was up a 9% as compared to a year ago at $263,098.

The level of new listings coming onto the market in October at 100 fell slightly as compared to prior month and was down 19% as compared to a year ago.

 

0

Queenstown Lakes / Central Otago Property Pulse factsheet – October 2011

Posted on: November 28th, 2011 | Filed in Queenstown Lakes Property Market Factsheet

The Queenstown Lakes district region property pulse factsheet for October 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales across the Queenstown Lake and Central Otago region at 68 in the month fell significantly on a seasonally adjusted basis in October and were up just 8% as compared to a year ago. The inventory of unsold houses on the market at 101 weeks rose slightly but still remains in line with the long-term average of 100 weeks of equivalent sales.

Median sales price of properties sold in the Queenstown Lakes and Central Otago region at $420,000 was up 9% as compared to a year ago, and up significantly on the prior month. The asking price expectation of new listings fell by 14% as compared to a year ago at $498,436.

The level of new listings coming onto the market in October at 329 fell as compared to prior month and was up just 6% as compared to a year ago.

 

 

3

Otago Property Pulse factsheet – October 2011

Posted on: November 28th, 2011 | Filed in Otago Property Market Factsheet

The Otago region property pulse factsheet for October 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales in the Otago region at 229 in the month fell on a seasonally adjusted basis in October and were up significantly by 27% as compared to a year ago. The inventory of unsold houses on the market rose very slightly to 29 weeks, currently this level is in line with the long-term average of 28 weeks of equivalent sales.

Median sales price of properties sold in the Otago region at $232,000 was down 5% as compared to a year ago, and up very slightly on the prior month. The asking price expectation of new listings was up 8% as compared to a year ago at $280,220.

The level of new listings coming onto the market in October at 407 was in line with September, but was down a significant 31% as compared to a year ago.

 

0

Southland Property Pulse factsheet – October 2011

Posted on: November 28th, 2011 | Filed in Southland Property Market Factsheet

The Southland region property pulse factsheet for October 2011 is published using data from Realestate.co.nz and REINZ Real Estate Institute of NZ).

Property sales in Southland at 130 in the month were when seen on a seasonally adjusted basis flat for the past 3 months. The sales were significantly up 44% as compared to a year ago. The inventory of unsold houses on the market fell to 39 weeks of equivalent sales, the recent couple of months has seen inventory rise up as compared to the long-term average of 32 weeks of equivalent sales.

Median sales price at $204,000 was up a very significant 20% as compared to a year ago, and up 20% on the prior month. The asking price expectation of new listings was up 9% as compared to a year ago at $259,063.

The level of new listings coming onto the market in October at 276 rose steeply as compared to September and was up 4% as compared to a year ago.

 

5

The mortgagee hangover

Posted on: November 16th, 2011 | Filed in Featured, Market News

The headlines keep reminding us that we are still globally mired in what can be thought of a global economic doldrums. Europe seems perilously close to some form of collapse or at least a “lost decade” and as ever when one of our major trading partner sneezes we tend to catch a cold.

At this time, one of the measures of this – what might be thought of as a long term hangover is mortgagee sales. Those properties where for whatever reason the property owner fails to meet their obligation with the lender and proceedings ensue whereby the lender (in the main, high street banks) seek to repossess the property and auction it off as a “mortgagee sale” to recover the debt owed on the property.

This sector of the NZ property market is a background condition in boom times as well as in bust times, it just tends to be that bust times tend to raise the levels of mortgagee properties being brought to the market. Over the past 4 years this has been very evident as the chart below highlights.

At the peak of the global financial crisis in 2009 the number of mortgagee properties being marketed peaked at over 400 properties in the market and in that year a total of 2,231 mortgagee properties were placed on the market. That compared to just 571 in the whole of 2007 (pre GFC). In 2011 so far 1,535 properties have brought to the market as mortgagee listings by lenders seeking to liquidate the asset.

At this time on the market there are 396 properties being marketed by real estate agents as mortgagee properties. As mortgagee properties are not a defined category our data set relies on the use of the term mortgagee to identify such properties.

As stated this continuing prevalence of mortgagee properties on the market is a bit of a legacy hangover – a legacy we seem unable to shake. Examining year on year data as the chart below shows, the fact is that 2011 is actually worse than 2010 when judged on the perspective of the percentage representation of mortgagee properties on the market as a proportion of all properties being marketed.

The scale of the NZ mortgagee property hangover is though somewhat modest when compared to other countries, most notably the US where still some 3 years after the GFC as a result of the sub-prime mortgage fiasco mortgagee sales (foreclosures as they are called) are estimated to still total 2.1 million properties and by some estimates will take a decade to clear, by comparison NZ mortgagee listings have never represented more than 0.75% of all listings or less than 0.5% of total sales.

6

NZ Property Report – October 2011

Posted on: November 1st, 2011 | Filed in Featured, NZ Property Report

The October 2011 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 October. 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 95% of all property movements in the NZ market as managed by licensed real estate agents.

A full print version of the NZ Property Report – October 2011 is published below and is available for download (1.5MB) and distribution.

Summary of the market – October 2011

The property market continues to show signs of confidence and heightened activity as compared to the past few years. The confidence amongst sellers bringing their properties onto the market has pushed up the truncated mean asking price to a new high of $434,161 – the highest level since the collection of data began in 2007. This rise in asking price was noticeable right across the country, with Auckland pushing a new high of $568,778.

However the volume of new listings shows a slightly different picture with an 11% seasonally adjusted decline which indicates that there is still some hesitation within property owners to bring their property onto the market. The month of October tends to see a big lift from September to satisfy the spring surge in demand; this year the increase was not so significant. This would ordinarily lead to some further tightening in the available stock of property on the market but recent sales which have not continued the year-on-year rises seen through the winter months have resulted in a rise in the inventory of unsold properties on the market. These inventory levels are still in the main below the long term average, but are edging up from the lows of 2 months ago.

The next data for November will be interesting to review as to the final flush of new listings coming onto the market in Spring – November is traditionally one of the biggest listings months of the year. Last year that total was close to 13,000 – that at a time when inventory was considerably higher than today.

Asking Price

The truncated mean asking price for all new listings in October rose again for the 3rd month in a row to $434,161 from $425,565. On a seasonally adjusted basis the asking price actually slipped 0.4% in the month indicating that whilst expectations are rising the rate of increase is not as high as seasonal factors would expect.

The long term trend as seen in the chart has been a steady increase in asking price over the past 3 years – the seasonal trend each year tends to see asking prices rise through from mid winter to October before falling back.

 

New Listings

The level of new listings coming onto the market in October rose only slightly, bucking seasonal trends. A total of 11,312 new listings came onto the market representing a 5% year-on-year decline; on a seasonally adjusted basis the fall was a more significant 10.7%.

On a 12 month moving total basis the number of new listings in the past year totals 124,503 as compared 141,139 for the same period a year ago – a fall of 12%.

 

Inventory

The level of unsold houses on the market at the end of October rose again. At the end of the month there were 48,597 houses, apartments and lifestyle properties on the market up from 46,299 in September and down from 52,043 a year ago. This current level of inventory represents 38.5 weeks of equivalent sales.

The trend as show in the adjacent chart is showing a small incline as the market stabilises once again.

 

Regional Summary – Asking price expectations

The national truncated mean asking price expectation among sellers rose to a new peak in October of $434,161. This exceeds the prior peaks of $429,249 in April of this year; and $429,033 from back in October 2007.

Across the 19 regions the signal was in all but 2 that price expectations are rising. The exceptions were the Central / Otago Queenstown Lakes region were prices fell by 11% on a comparison with recent 3 months average to $498,436 and the Central North Island region which was down 3.5% to $344,669. In the case of the Queenstown region this latest price is low as judged on a long term basis with an all time high in July 2007 of $668,973 and a low of $479,699 in Feb 2009.

There were 7 regions where asking prices rose above 5% on a comparable basis to the past 3 months, with a further 8 regions with an increase of between 1% and 5%.

 

Regional Summary – Listings

The flow of new listings onto the market has been sporadic this year. From shortages in the Autumn and Winter months to then seeing an early surge in late Winter and early Spring. The latest month of October – traditionally a strong month for listings saw a flatter performance.

Nationally the year-on-year comparison was down 5%. Across the country there were 10 of the 19 regions reporting falls in listings greater than the national average. Within this group extremely low levels of listings were seen in the Central North Island (-36%) Hawkes Bay (-38%) and Otago (-30%), a clutch of 4 regions (Gisborne, Wairarapa, Marlborough and the West Coast) all saw 19% falls.

Against these falls Northland saw a massive rise of 31% to 622 new listings, with 4 other regions reporting rises in new listings over 5%.

 

Regional Summary – Inventory

The inventory of unsold homes on the market crept up again this month to 38 weeks, still below the long term average of 41 weeks leading to the assessment that the market is in the main favouring sellers.

Across the country there were 5 regions which are certainly in a shortage of listings situation of which Canterbury and Auckland are the most significant. The former region not having seen this level of inventory for 2 years.

There are however 3 regions (Marlborough, Taranaki and Gisborne) were the market is certainly favouring buyers with high levels of inventory set against long term average.

The remaining 9 regions are balanced between buyer and sellers with a slight leaning in favour of sellers. The key factor affecting the future trend will be the extent of property sales over the months of October and November as to whether the trend of inventory keep edging up to the long term average or plateaus.

 

Lifestyle

Lifestyle property listings across the country rose in October by 14% as compared to September; when judged on a seasonally adjusted basis the performance showed an increase of 3%. There were 998 new listings added in the month with a truncated mean asking price of $609,544 which was up 8% on the recent 3 month average. Measured against October last year the asking price is up 4%. It certainly would look as though lifestyle properties are coming back onto the market after a quiet period. On a 12 month moving average basis total new listings of lifestyle properties are down 12% at 10,847.

 

Apartments

New apartment listings fell again last month from September and the high of August. A total of 446 new apartment listings came onto the market. The truncated mean asking price at $363,115 was down 3% on the prior month and 2% up on a year ago. Nationally over the past 12 months the level of new listings of apartments have fallen 15% as compared to the prior 12 month period the prior year – a total of 5,720 new apartments have come onto the market in the last 12 month period.

In the Auckland apartment market, which represents over 60% of the total market there were just 280 new listings which represented an 20% seasonally adjusted decline. In terms of asking price, the truncated mean in October was $345,321 up 6% as compared to the recent 3 month average.

 

Property Price Index

Comparing the sale price of properties across the country to the asking price expectation is not a perfect comparison; however the trends tend to align. The benefit is that the data for asking price is of the market today, whilst the selling price is reflective of the market active between 4 and 6 weeks ago. The latest comparison is highlighted below:

 

Realestate.co.nz data is compiled from asking prices of new residential listings as they come onto the market via subscribers to the realestate.co.nz website. The Realestate.co.nz website currently has over 95% of all licensed real estate offices subscribing and providing all of their listings onto the website. The asking price is presented as a truncated mean price at a 10% interval.

REINZ: data is compiled from reported unconditional residential sales from all members of the Real Estate Institute of New Zealand representing all licensed real estate offices. The sale price is published as a stratified median sales price and is developed in association with the Reserve Bank of NZ.

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, 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 95% 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.

In analysing the details of the 11,312 new listings in the month of October, a total of 170 listings have been excluded due to anomalies. The land area of the property defines the categorisation of Lifestyle property. The criterion is a property having in excess of 0.3 hectares and being situated outside metropolitan areas.

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 six 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. It features the most comprehensive selection of property for sale and rent across NZ. The website attracts a significant monthly audience of over 400,000 unique browsers, with over 110,000 of those visiting from countries outside of 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 5,000 listings for all types of farms and agricultural land as well as over 11,000 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 27,000 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 4,300 listings for all types of businesses – retail, tourism, wholesale as well as franchise opportunities.

Zoodle is a specialist property information website providing very detailed data on all residential properties in NZ. The database comprises over 1.6m properties with detailed specifications, map and local amenities. The site provides online reports for free and for purchase covering valuation and legal information to greatly assist the needs of property buyers and sellers.

The web business of Realestate.co.nz site is the most comprehensive real estate web operation in NZ, 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 95% of all listings from licensed real estate agents in NZ.

 

The full NZ Property Report for October 2011 can be downloaded here (1.5MB 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 November 2011 will be published on this website on Thursday 1st December 2011 at 10am.

 

 

 

1

Real estate mobile search comes to the Android smartphone

Posted on: October 9th, 2011 | Filed in Featured, mobile

The success of the Realestate.co.nz app for the iPhone has transformed the NZ real estate search experience. Every day thousands of eager property seekers fire up the iPhone app to checkout what property is for sale or rent right around where they are at that time. It’s the only property app in NZ for a smartphone that utilises the GPS capability to help you discover your favourite new home, from the most comprehensive database of listings for properties on the market.

All of these benefits has made the Realestate.co.nz app for the iPhone the mobile app of choice and is why over 40,000 downloads have been made through the iTunes app store in the past 11 months – with still over 100 new downloads every day.

The iPhone is unquestionably an innovative and highly appealing device, but globally the Android operating system is proving the leader with over 500,000 activations a day globally. In NZ the Android platform offers a wide range of smartphone options and this why it is so important for all these Android smartphone owners to have a mobile app for house hunting. To meet this need Realestate.co.nz is delighted to release an Android app to complement the iPhone app .

The functionality is very similar – again offering the only GPS enabled property search app in NZ for the comprehensive selection of property on the market. The app for both iPhone and Android draws on the enormous property database of Realestate.co.nz hosting as it does over 95% of all listed properties by licensed real estate agents.

The Android app is free and can be downloaded through the Android marketplace. Simple and easy to use and sure to swell the numbers of property seekers turning to their smartphone as well as their web browser to search for their next home.

 

5

NZ Property Report – September 2011

Posted on: October 1st, 2011 | Filed in Featured, NZ Property Report

The September 2011 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 September. 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 95% of all property movements in the NZ market as managed by licensed real estate agents.

A full print version of the NZ Property Report – September 2011 is published below and is available for download (1.5MB) and distribution.

Summary of the market – September 2011

The property has now fully entered its traditional spring period; an active time with new listings appearing as the weather improves. This year the two uncertain variables of the Rugby World Cup and the forthcoming election certainly do not appear to be affecting the supply side of the market.

New listings continued to come onto the market – by no means a flood, but much in line with seasonal trends. The current rate of sale of properties has been growing steadily over the past 6 months and whilst in last couple of months this rate of sale has been at a higher rate than listings leading to a decline in inventory; during September this balance was redressed. As a consequence in the month of September the inventory of unsold houses rose slightly.

The key measure for the month is without doubt the asking price expectation, which rose again a significant $10,000 to $525,565. This is now 3.4% ahead of September last year and just 1% below the peak asking price set in April of this year.

 

Asking Price

The truncated mean asking price for all new listings in September rose significantly from $415,078 in August to $425,565. On a seasonally adjusted basis the asking price rose by 1.5% in the month indicating that there is an emerging confidence amongst sellers of stronger prices.

There is a seasonal trend that sees asking price rise in the early spring each year, this year that seasonal rise is somewhat more significant and could result in a new peak of asking price.

 

New Listings

The level of new listings coming onto the market in September rose again in line with seasonal trends. A total of 11,117 new listings came onto the market representing a 5% year-on-year increase; on a seasonally adjusted basis the rise was a more modest 0.3%.

On a 12 month moving total basis the number of new listings in the past year totals 124,102 as compared 142,778 for the same period a year ago – a fall of 12%.

 

Inventory

The level of unsold houses on the market at the end of September rose slightly. At the end of the month there were 46,299 houses, apartments and lifestyle properties on the market up from 44,689 in August and down from 51,035 a year ago. This current level of inventory represents 37.2 weeks of equivalent sales.

From the chart the decline in inventory has been halted and a plateau is emerging.

 

Regional Summary – Asking price expectations

The national asking price expectation rose significantly in September due to seasonal factors. Across the country this trend was seen in 17 of the 19 regions reporting a rise in the truncated mean asking price as compared to the recent 3 month average. The most significant rises were seen in the Auckland, Manawatu/ Wanganui, Canterbury and the West Coast all of which exceeded 5% growth as compared to recent 3 month average.

There were just 2 regions which experienced falls in asking price, Marllborough down 1.6% and Southland down a significant 7.9%.

 

 

Regional Summary – Listings

Listings flow was strong in September with 12 of the 19 regions seeing rises.

Significant rises were seen on the West Coast and in the Marlborough region. By contrast just 4 regions saw comparable year-on-year falls in new listings. Northland saw a significant 22% fall as compared to last year.

 

 

 

Regional Summary – Inventory

Whilst the overall state of the property market still favours sellers, the trend of the past month has seen some easing in some regions as new listing levels have outpaced sales. There are still 11 of the 19 regions of the country that have an inventory measured as weeks of equivalent sales below the long term average.

The 3 key metro areas of Auckland, Wellington and Christchurch are all sitting with inventory well below long term average and have seen very active local pockets of property buying as listings in short supply have driven some active buyer activity.

 

Lifestyle

Lifestyle property listings across the country rose in September by 15% as compared to August when judged on a seasonally adjusted basis the performance showed a 4% decline. There were 878 new listings added in the month with a truncated mean asking price of $599,813 which was up 10% on the recent 3 month average. Measured against September last year the asking price is up 14%.

 

Apartments

New apartment listings returned to a more normal level last month from the peak level in August. A total of 492 new apartment listings came onto the market. The truncated mean asking price at $372,747 was up 13% on the prior month and 3% up on a year ago.

In the Auckland apartment market, which represents over 60% of the total market there were just 299 new listings which represented an 31% seasonally adjusted decline. In terms of asking price, the truncated mean in September was $336,707 up from the prior month record low of $302,425.

 

Property Price Index

Comparing the sale price of properties across the country to the asking price expectation is not a perfect comparison; however the trends tend to align. The benefit is that the data for asking price is of the market today, whilst the selling price is reflective of the market active between 4 and 6 weeks ago. The latest comparison is highlighted below:

Realestate.co.nz data is compiled from asking prices of new residential listings as they come onto the market via subscribers to the realestate.co.nz website. The Realestate.co.nz website currently has over 95% of all licensed real estate offices subscribing and providing all of their listings onto the website. The asking price is presented as a truncated mean price at a 10% interval.

REINZ: data is compiled from reported unconditional residential sales from all members of the Real Estate Institute of New Zealand representing all licensed real estate offices. The sale price is published as a stratified median house price and is developed in association with the Reserve Bank of NZ.

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, 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 95% 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.

In analysing the details of the 11,117 new listings in the month of September, a total of 169 listings have been excluded due to anomalies. The land area of the property defines the categorisation of Lifestyle property. The criterion is a property having in excess of 0.3 hectares and being situated outside metropolitan areas.

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 six 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. It features the most comprehensive selection of property for sale and rent across NZ. The website attracts a significant monthly audience of over 400,000 unique browsers, with over 110,000 of those visiting from countries outside of 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 5,000 listings for all types of farms and agricultural land as well as over 11,000 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 27,000 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 4,300 listings for all types of businesses – retail, tourism, wholesale as well as franchise opportunities.

Zoodle is a specialist property information website providing very detailed data on all residential properties in NZ. The database comprises over 1.6m properties with detailed specifications, map and local amenities. The site provides online reports for free and for purchase covering valuation and legal information to greatly assist the needs of property buyers and sellers.

The web business of Realestate.co.nz site is the most comprehensive real estate web operation in NZ, 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 95% of all listings from licensed real estate agents in NZ.

 

The full NZ Property Report for September 2011 can be downloaded here (1.0MB 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 October 2011 will be published on this website on Tuesday 1st November 2011 at 10am.

4

Recruitment in this digital age

Posted on: September 20th, 2011 | Filed in Online marketing, Website news

We have recently been recruiting for a new Marketing Manager. It is always difficult to replace such a key role in an organisation; we were sorry to see her depart, but equally we much appreciated what she had done for us as she headed for a new and larger career opportunity.

The recruitment process for her replacement is well under way now with applications for this role compiled and the interview rounds started. We very much hope to make an appointment shortly.

I just thought that it would be useful for me to provide some feedback on this recruitment process in terms of effectiveness of recruitment marketing which might be of interest to others thinking about how to approach recruitment in this digital era.

This role of Marketing Manager for our company is a very nearly pure digital marketing role (we do some offline media) and as such given the importance of the capabilities we seek in digital marketing and social media, I decided that more than any other role within the company the candidates must be living in the online space. As a function of this profile for the role I decided we would manage the recruitment process ourselves rather than employ a recruitment company.

Let me be clear (for fear of alienating recruitment companies) I value the role of recruitment companies and have utilised them extensively in the past. We have used their services in recent times to find for us sales and finance roles. They add significant value in candidate database search, as well as the initial stages of recruitment screening and objective reviewing the interview process, as well as reference checking. My motivation for not using a recruitment company this time was not to save money. It was far more the desire to better understand the recruitment process, especially as it so closely mirrors the property marketing arena.

I wanted to test the various recruitment websites (Seek and Trade me Jobs) as well as to see the value of using our own social media contact network. In addition I was also very keen to try the recruitment offerings on LinkedIn. I have to apologise to the team at Jobs.co.nz, it was my intention to use their services, however time was against me and I never got the advert established in time.

In total I received 50 applications for the role, of these I was able to immediately cull 14 as they were not able to work in NZ. They were from a variety of countries (US / China / Chile / India) and yet all had excellent experience and qualifications.

In terms of source of leads the most came from Seek (16) closely followed by LinkedIn (14) and Trade me (13); direct enquiries totalled 7.

However when accessing qualitative performance the outright winner was LinkedIn that delivered 13 credible and applicable candidates, Seek delivered 10, Trade me with 6, together with the 7 direct enquiries all being credible.

LinkedIn provide a great toolkit of solutions including a slightly spooky ability to “pitch” to prospective candidates who meet the specifications of the role and who live and work in Auckland. I chose not to use this service, preferring to act in a more passive manner. Their dashboard though is an excellent reporting capability that adds significant credibility and professionalism to the service they provide.

As ever, just as in real estate the recruitment process comprises far more than simply advertising; and this is the hard task we are currently undertaking to select a worthy new marketing manager. It is though very useful to have had the opportunity to evaluate the various methods of recruitment in the new digital age.

Page 26 of 91« First...1020...2425262728...405060...Last »