NZ Property Report – new insight into the market

Earlier this month we launched to the public and the media the first of what will become a regular monthly Property Report. The report is compiled from statistics of the website and provides a unique perspective on the real estate market as seen from the new listings coming onto the market.

The report which is being produced on the first day of each month will hopefully in future months be seen as an early indicator as to the state of the market as measured by movements of inventory of new listings as well as the trend in the asking price of property listings.

Our aim is for this indicator to be judged by the industry, the public and the media as a new complementary guide to the state of the market – is it judged to be “a buyer’s market or a seller’s market” matched to “price expectation rising or falling” – monitored in the same way that the REINZ sales data and median price data is reported.

The website is in a unique position to produce such a report being the most comprehensive source of real estate listings (58,000 properties for sale from among 112,000 listings) – as represented by over 93% of the licensed offices in NZ.

This first report which benefits from being able to track back to January 2007 highlighted what had become a growing trend of increasing price expectation for new listings up to a median price of $399,000 for March. Equally reflecting the current state of the market in general new listing numbers are down.

Read more details of the report here or download a copy to share with your clients and colleagues

April 20 2009 08:14 am | Market stats

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