I was very interested to read this week of the performance of the Trade Me iPhone app. In a very open manner they shared their data with the NBR. This naturally prompted me to examine the data from the Realestate.co.nz iPhone app after our first 5 months of operation.
As far as uptake is concerned in excess of 1 in every 10 iPhone owners has now downloaded the app, a total exceeding 25,000 downloads since we released the app in November. Every day we continue to see over 100 new users discover this great way to discovery property for sale right around them.
Trade Me’s app was launched at the same time, and in that time they have had over 110,000 downloads. Like Trade Me we had modest expectations of around 12,000 to 15,000 downloads within 6 months; so for us 25,000 for such a specialised app as compared to Trade Me’s app which covers such a diversity of content, is really encouraging.
This strong adoption of real estate listings search on the iPhone is reflective of a global trend which has seen over 1 million downloads of the UK real estate website Rightmove iPhone app and across in Australia over 180,000 for Realestate.com.au iPhone app.
The most developed market in terms of mobile usage for property search is the USA – there the #1 property portal Zillow.com reports not only downloads exceeding 3 million, but the level of engagement of buyers with property listings on the mobile platform is fast approaching a third of all viewings. For Realestate.co.nz we see that in the past month 10% of all property listings views are made via the iPhone app with a further 2% being on the mobile web platform across a number of mobile devices including Android and the iPad; this after just 6 months, shows how important the mobile platform is to the experience of looking for property to buy.
Another very interesting insight in the usage of the mobile device is the heavy usage at the weekend. Whereas the web usage has higher activity during the week the iPhone is clearly a weekend tool – part of the open home toolkit for a Saturday morning allowing active property hunters to drive around the areas checking out what is on the market or sitting in a cafe between open home visits.
In terms of usage the iPhone is clearly not a tool limited to the inner city suburbs, in the month of April over 90% of all listings of property on the iPhone were viewed by property hunters – that is a figure which has grown progressively over the past months as the penetration has gown and usage has extended to every corner of the country.
Clearly we see the iPhone app (and future Android app) becoming a critical platform to provide property hunters with a great experience to aid the process of finding that perfect property. We have new developments and functionality planned for the next few months and will keep improving the experience. With a dedicated audience of over 25,000 we are fully committed to this sector of the market.