The Unconditional Blog

The impartial voice of the industry

 
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Bay of Plenty – Property Market Pulse factsheet – October 2010

Posted on: October 21st, 2010 | Filed in Bay of Plenty Property Market Factsheet

Realestate_DownloadNowThe Bay of Plenty region Property Market factsheet for October 2010 can be downloaded by clicking this icon.

Property sales in the Bay of Plenty picked up slightly in August and September. Sales in September totaled 307 as compared to 411 in September 2009.

Bay_of_Plenty_seasonally_adjusted_sales_Sep_2010Inventory of houses on the market rose once again in September to 72 weeks of equivalent sales. This level of inventory remains high relative to the long term average of 55 weeks. This would indicate that the market still holds a slight advantage for buyers.

Bay_of_Plenty_inventory_of_unsold_houses_Sep_2010

Property prices for the Bay of Plenty are included in the broad Waikato / Bay of Plenty regional median property price, in September this price was $314,324 which was down 0.2% on Sep 2009 price. Property prices remain some 6% below the peak of the market in Feb 2008 when prices reached $333,000.Waikato_BOP_median_house_price_Sep_2010

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Central North Island – Property Market Pulse factsheet – October 2010

Posted on: October 21st, 2010 | Filed in Central North Island Property Market Factsheet

Realestate_DownloadNowThe Central North Island Property Market factsheet for October can be downloaded by clicking this icon.

Property sales for the Central North Island rose by 7.7% in September on a seasonally adjusted basis from August. A total of 36 property sales were recorded in September as compared to 58 in September 2009. In the first 9 months of 2010 414 properties have been sold compared to 540 in 2009.

Central North Island seasonally adjusted sales - September 2010Inventory of houses on the market picked up again in September. The current inventory of 103 weeks of equivalent sales is considerably higher than the long term average of 74 weeks. This would indicate that the market is still favouring buyers.

Central_North_Island_inventory_of_unsold_houses_-_Sep_2010

Property prices for the Central North Island are included in the broad Waikato / Bay of Plenty regional median property price, in September this price was $314,324 which was down 0.2% on September 2009 price.

Waikato_BOP_median_house_price_Sep_2010

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Gisborne – Proprty Market Pulse factsheet – October 2010

Posted on: October 21st, 2010 | Filed in Gisborne Property Market Factsheet

Realestate_DownloadNowThe Gisborne region Property Market factsheet for October can be downloaded by clicking this icon.

Property sales in Gisborne fell significantly in September as measured on a seasonally adjusted basis. A total of 28 sales were recorded in the month. This compares with 43 sales in September 2009. In the first 9 months of 2010 a total of 316 properties have been sold compared to 395 over the same period in 2009.

Gisborne seasonally adjuested property sales - Sep 2010Inventory of houses on the market fell again in September to 38 weeks of equivalent sales. The September level is now below the long term average of 43 weeks. This would indicate that the market is more balanced and could be edging to a seller’s market with a shortage of listings.

Gisborne_inventory_of_unsold_homes_-_Sep_2010

Property prices for the Gisborne are included in the broad Waikato / Bay of Plenty regional median property price, in September this price was $314,324 which was down 0.2% on July 2009 price.

Waikato_BOP_median_house_price_Sep_2010

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Taranaki – Property Market Pulse factsheet – October 2010

Posted on: October 21st, 2010 | Filed in Taranaki Property Market Factsheet

Realestate_DownloadNowThe Taranaki Property Market factsheet for October 2010 can be downloaded by clicking this icon.

Property prices in Taranaki recovered somewhat in September to $269,500 from $265,500 in August. As compared to a year ago prices in the region are down by 4.8%.

Taranaki property prices - Sep 2010Property sales in the region dipped by 12.1% in September on a seasonally adjusted basis. A total of 132 properties were sold in September. Over the course of the first 9 months of 2010 a total of 1,336 properties have been sold compared to 1,513 in the same period in 2009.

Taranaki seasonally adjusted property sales - Sep 2010

The inventory of houses on the market remains at high levels with 30 weeks of equivalent sales in September. This inventory of 30 weeks of equivalent sales continues to be well above the long term average of 22 weeks. This would indicate that the market still favours buyers.

Taranaki_inventory_of_unsold_homes_-_Sep_2010

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Manawatu / Wanganui – Property Market Pulse factsheet – October 2010

Posted on: October 21st, 2010 | Filed in Manawatu Wanganui Property Market Factsheet

Realestate_DownloadNowThe Manawatu / Wanganui region Property Market factsheet for October 2010 can be downloaded by clicking this icon.

Property prices in the Manawatu / Wanganui region dipped in September to $216,500. As compared to a year ago prices in the region are down 3.9%.

Manawatu Wanganui media house price - Sep 2010Property sales in the region rose again on a seasonally adjusted basis by 6.2%. A total of 240 properties were sold in September. Over the first 9 months of 2010 a total of 1,976 properties have been sold as compared to 2,666 in the same period of 2009.

Manawatu Wanganui seasonally adjusted property sales - Sep 2010

Inventory of houses on the market remained at 47 weeks of equivalent sales on the market as compared to 46 in August. The current inventory continues to be above the long term average of 36 weeks. This would indicate that the market still swings in favour of buyers.

Manawatu_Wanganui_inventory__of_unsold_houses_-_Sep_2010

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Wairararapa – Property Market Pulse factsheet – October 2010

Posted on: October 21st, 2010 | Filed in Wairarapa Property Market Factsheet

Realestate_DownloadNowThe Wairarapa district Property Market factsheet for October 2010 can be downloaded by clicking this icon.

Property sales in the Wairarapa fell sharply in September down 24% from August on a seasonally adjusted basis. A total of 47 properties were sold in September. Over the first 9 months of 2010 a total of 444 properties have been sold, this compares to 523 in the same period of 2009.

Wairarapa seasonally adjusted property sales - Sep 2010Inventory of houses on the market in September fell from the peak of August. Inventory now totals 121 weeks of equivalent sales. This level of inventory is considerably ahead of the long term average of 75 weeks. This would indicate that the market is favouring buyers at this time.

Wairarapa_inventory_of_unsold_houses_-_Sep_2010

Property prices for the Wairarapa region is included in the broad Wellington regional median property price, in September this price was $398,500 up 5.4% on September 2009 price.

Wellington region median house price - Sep 2010

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Wellington – Monthly Property Market Pulse factsheet – October 2010

Posted on: October 21st, 2010 | Filed in Wellington Property Market Factsheet

Realestate_DownloadNowThe Wellington region Property Market factsheet for October 2010 can be downloaded by clicking this icon.

Property prices in the Wellington region as measured on a stratified basis fell in September to $403,595. As compared to a year ago prices are down 0.3%.

Wellington stratified mean house price - Sep 2010Property sales measured on a seasonally adjusted basis fell by 1.5% from August. There was a total of 445 property sales in the month. Over the first 9 months of 2010 a total of 4,507 properties have been sold, this compares with 5,246 in the same period in 2009.

Wellington seasonally adjusted property sales - Sep 2010

Inventory of houses on the market remains stable at the current level of 24 weeks of equivalent sales. This is slightly up on the long term average in the region of 21 weeks. In overall terms the property market across Wellington remains fairly well balanced with a slight leaning in favour of buyers.

Wellington_inventory_of_unsold_homes_-_Sep_2010

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21 years and the internet comes of age

Posted on: October 18th, 2010 | Filed in Featured, social media, Technology

Computer mind explosion1989 – just 21 years ago. How different things were then. I was not living in NZ at the time so I was not here to witness the birth of the internet which is being so beautifully documented this month by the Wellington digital agency Heyday.

They have created an online visual calendar of the past 21 years of the internet’s birth, adolescence and maturity with a single day spanning a year. They are calling it “Down to the Wire“. Started on Monday 11th October and due to conclude on Monday the 1st November. The project is a comprehensive visual history of the internet. I commend them for their execution which has become addictive daily viewing.

1989_ The Story of New Zealand_s InternetAnother compelling piece of viewing has been the superb BBC documentary series “Virtual Revolution” which has been aired on Sky’s Living Channel for the past 4 Sunday nights. This is a series of unprecedented richness and insight into the impact the web has had on our lives over the past two decades. I was somewhat surprised to see it air on Sky as opposed to TVNZ – a sad reflection of the output of formula-driven, mass-market, mind-numbingly repetitive crime dramas that seem to proliferate the TV screen these days. This is in the classic form – a great documentary.

The series is energetically presented by Aleks Krotoski who has had the opportunity to interview some of the great luminaries of the technical world – Bill Gates, Mark Zuckerberg, Jeff Bezos, Al Gore (the man who claims to have invented the internet – as opposed to the person who did invent the web – Tim Berners Lee, Steve Wozniak, Eric Schmit as well as a host of other key people – the only conspicuously missing individuals would be Larry Page & Sergey Brin and of course Steve Jobs.

If you have missed watching the series I recommend you at the very least watch some of the online videos on the website and hope some time soon another channel broadcasts it or see if you can download it on iTunes. It is incredibly good, not so much as a chronological history of 20 years of the web but more as a forward looking discussion of the impact that this digital revolution has had and will continue to have on our daily lives.

I reflect on the past 20 years and consider myself fortunate to have been a witness to this period of history and further to have had the opportunity to have participated in some of these technological advancements. I have to confess to being defined by sociologists as a late baby boomer (although someone very kindly called me the oldest Gen Y’er), and as such am judged to be a digital immigrant, despite this tagging I am passionate about what the future holds through yet further technological advancements; the scope of which we may not yet have even conceived.

Indulge me if you will, to allow me to share some of my personal highlights of the early years of the web!

  • I first came across the principle of the web in 1989 when I was in France on business and discovered Minitel – a private web which allowed Parisians the ability to order stuff through a modem connected terminal in home.
  • I first used email in 1994 with communication between London and LA during my time working for a movie company. I felt trepidation in sending an email direct to a studio exec, somehow I judged in those days that a fax message was in someways less intrusive than a message flashing up on a PC screen.
  • I first discovered the web through a hideous website for Village Cinemas in 1995 through a Netscape browser – I recall the experience of blue and red font on a black screen as being really straining on the eyes!
  • I logged onto the web for the first time from my first home computer in 1996 – I recall unpacking that Xtra box allowing me to connect up to my then new PC Direct PC to the web and establish my own personal email address.
  • In 1999 I managed the design and build (or to be correct had built for me by the amazing guys at Webmasters) my first website – www.mode.co.nz (sorry no longer there!) – it was a site to compliment the specialised service of new home building of masonary constructed houses that I was involved with at the time, as part of Fletcher Building.
  • In 2000 I undertook a study tour of the US with a team from Fletcher Building to investigate e-Business (this was the term of the day then). We visited some great companies (Cisco / GE / GM) and some great dotcom hopefuls (Ariba / Buildnet / Webvan). The latter company – Webvan was my favourite – delivering home grocery shopping via the web. It was probably the most expensive dotcom crash ever taking over US$1,000,0000,000 of investors money with it as it crashed, a very small piece of which was my own money!
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September 2010 Property market video – Realestate.co.nz

Posted on: October 15th, 2010 | Filed in Buying / Selling a home, Featured, Market News, REINZ Monthly data

Video image header for blogThe latest statistics from the Real Estate Institute for September, providing insight into the residential property market are presented in this video.

The key charts to accompany the video are provided below:

The sales analysis of the 3 key metro areas highlights the impact of the Canterbury earthquake on sales in the region. The flat property sales market in Wellington is contrasted with a rise in sales in Auckland of 12%. The sales figures are seasonally adjusted to allow comparable month by month comparisons.

Key_regions_sales_Sep_2010

The Stratified price for the total of NZ shows the extent to which prices have continued to slide over the past year since November last year when they had recovered some of the early falls after the peak in mid 2007. The current stratified price across the country is $359,555.

NZ_Strat_price_Sep_2010

The Auckland property prices have risen sharply in September to $487,800 to edge closer to that long term peak of July 2007, currently that differential is 4.4%.

Auckland_Strat_price_Sep_2010

The Wellington property prices continue to see some weakness with the stratified price down in the month to $403,595 which is 4.3% below the peak of the market just under a year ago.

Wellington_Strat_price_Sep_2010

The Christchurch stratified property price continued to show weakness. It is likely that the impact of the recent earthquake and the resultant fall in sales could impact reported prices and the state of the market. For the month of September the stratified price was $330,750. This level represents a level 6.7% below the peak of the property market in the city back in October 2007.

Christchurch_strat_price_Sep_2010

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Canterbury market continues to feel the after effects of earthquake

Posted on: October 14th, 2010 | Filed in Featured, Regional News, REINZ Monthly data, Website searching

REINZ monthly article headerThe latest sales results released today by the Real Estate Institute bear witness to the fact that the real estate market across the Canterbury region is struggling. A total of 359 properties were sold in September down from the 884 sold in the same month last year and also down from the 647 in September 2008 – up until August, the 2010 year was tracking pretty close to the same levels as 2008 as seen from the chart below.

Canterbury sales data for Sep 2010

The results for the Canterbury region are not unexpected given the catastrophic impact that the earthquake had on the built environment, not just in terms of actual structural damage, but more importantly in verification of structural integrity. The early signs of the impact of the earthquake were seen in terms of website visitors as seen in the days after the impact. That situation was showing signs of improving. However as can be seen from the chart below now that four weeks have passed the overall level of visitor traffic is down around 23% from where it would have been expected to be at this time of the year.

Canterbury region website visitor stats 2009 and 2010

The other early sign of the impact of the earthquake on the region was reported within the monthly NZ Property Report which was published on the 1st October and covered the month of September in terms of new listings. In September a total 1,211 new properties were listed in the Canterbury region which was down 19% on a seasonally adjusted basis from August. This compared to a total for all other regions of the country excluding Canterbury showing a small 1% increase from August on a seasonally adjusted basis.

Half way through October the picture is looking very similar with new listings still down, this is best shown from the chart below which tracks the % representation of the Canterbury region listings each month. The October data is for the first 14 days of the month so far.

Canterbury listings to oct 2010

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