Which real estate website to use? – analyse the property listings numbers

With the online landscape markedly changed today (1st December) with the exit of allrealestate.co.nz (now directing visitors to this website) the “head to head” analysis of realestate.co.nz as compared to trade me property becomes ever more important. The key determination of value for this industry has always been as proposed by this company comprehensive content.

The most valuable website is more likely to be the website with the largest number of listings – people keen to look for property will always gravitate towards the site that acts as a “one-stop-shop”. Some detailed analysis provides some insight important for all real estate offices to consider.

We have accurately tracked the listings of residential property on realestate.co.nz and trade me property over the past 2 years maintaining a detailed record on a like-for-like basis. The summary of this analysis is presented in the graph below.

The numbers are pretty clear – realestate.co.nz has maintained over 20,000 more properties for sale as featured on the website than as featured on trade me property website over the past 2 years

The data is directly comparable as each data set of listings comprises the estimate of just licensed real estate office listings on each website. How have we done this?

We have on a frequent basis undertaken a sample of around 6 suburbs across the country every 2 months and worked out how many of trade me property listings are “private” and how many are from licensed agents. We have then also applied a factor to the listing stock to estimate the number of properties that are marketed as general listings. The net result of this is the graph above.

The graph shows that the differential of content has remained in excess of 20,000 properties for all of the 2 years, expect for the month of June 2007.

At the peak in February of this year (prior to the decision by Barfoot & Thompson to list on Trade me) the differential stood at 34,000. Following the addition of the 7,000 listings from Barfoot & Thompson the differential came back to 26,000 and then by September has slipped to 23,000.

The past 2 months has seen an increase again with the latest listing comparison showing a differential of 25,000 – with 67,000 residential properties on realestate.co.nz as compared to 42,000 on trade me on a like-for-like estimated basis of licensed real estate marketed properties.

December 01 2008 02:44 pm | Market stats

2 Responses to “Which real estate website to use? – analyse the property listings numbers”

  1. Deon Swiggs on 01 Dec 2008 at 3:00 pm #

    Can you tell me what you think will be contributing to trademe continuing to steadily grow in numbers, and do you think they will continue to grow in this steady form which they have been doing.

  2. Alistair Helm on 01 Dec 2008 at 3:10 pm #

    Both realestate.co.nz and trade me property listings are growing as this market continues to build inventory with such low sales levels.

    The key thing is that with realestate.co.nz having far more subscribing offices than trade me, any general growth in the inventory on the market will see the growth in listings on realestate.co.nz grow faster than on trade me, as is shown by the past 2 months.

    Bottom line it looks like the market share for trade me and realestate.co.nz over the past 6 months has not changed much – that is to say trade me are not signing up new offices faster than we are! – and as we have lost offices as these office close, so trade me is loosing subscribers.

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