Archive for the 'Market stats' Category

Anticipation for a great 2010 in real estate

For many 2009 has been a challenging year. As compared to 2008 it has been a lot brighter.

In the last 12 months there were a total of 67,197 residential sales as compared 60,981 in the period to October 2008 – a 10% increase. The good news is there is great scope to see sales rise even more in 2010 – based on a 10 year average of sales as a ratio to the number of houses across the country we should be seeing sales averaging 96,000 a year! – so there is upside growth in sales to come, hopefully we will see some of this in 2010.

(To get a fuller picture of these facts please read this analysis as presented on the Unconditional blog).

As far as activity online is concerned, this year has been nothing short of staggering. Over the past 12 months close to 50 million visitor sessions were undertaken across the 7 leading real estate websites (as monitored by Nielsen Online).

As the chart shows this growth has been unstoppable as each year more and more buyers turn to the web to search for property – so many in fact that total user numbers have doubled over the past 3 years.

For realestate.co.nz our rate of growth has been even faster, not only have we more than doubled since 2006 we are now seeing the number of individual visitor sessions per week up over 46% in a year; with now an average week seeing the website provide over 145,000 users with the most comprehensive real estate listings source of any website in NZ.

This is great news for the industry in general, especially when you remember that realestate.co.nz is your website – owned by the industry, your industry, protecting your long term interests.

That was last year now let’s think about the coming months. The first 3 months of the year are tradtionally the most active during which viewing and enquiry levels peak. The chart below clearly demonstrates this. The shaded area indicates the quiet Christmas break, with the top solid blue line showing the weekly traffic across all these websites to date. The dashed blue line then goes on to estimate the level of visitors traffic we can expect to see in January and February – potentially well over 1,100,000 visitors per week.

To take advantage of this anticipated peak in viewing and searching it is so important to use these next few weeks to prepare to get the most out of the next 3 months:

1.  Get those listings right

It seems so simple but too often the basics get forgotten:

(a)   Photos – get the best collection of the best images. Make sure the #1 photo (the first photo in the sequence) is the best representation of the property. Remember the more photos a listing has the more the number of visitors, it is a fact

(b)   Address – showing an address generates a map which buyers love so they can get a perspective of where the property is and what the area around it is like – they want to use Google Street View or Zoodle – so be their friend and help them

(c)    Description – provide rich information that enables a buyer to make an informed assesment on the property. Describe the key benefits of the property and the local community – be seen as an expert who is keen to share valuable insight into living in the area – an area or neighbourhood you know so well

2. Promote those listings

To have a listing on the web is just the starting point. You need to recognise that with more people search online nowadays than in print publications you need to look to focus vendor paid marketing online.

The “Featured Listings” on realestate.co.nz are used widely by so many agents who see the value of the $250 per 2 week investment in promoting their client’s listings and see the results in the greater exposure and increase in viewing numbers.

Get in quick to grab your chosen suburb for the summer perod – we often sell out as there are only ever 3 properties featured in each suburb at any one time.

3. Get out and promote yourself

Recognising that buyers searching online for new homes are more than likely to be thinking of selling their home means that advertising your services on realestate.co.nz is so logical.

The Featured Agent adverts which allow you to promote yourself as one of just 3 agents per suburb is so effective. We still have spots available from now until the end of March and from just $15 per month, there is no better way to solicit enquiries from the massive audience on the site.

To buy a personal profile advert for your chosen suburb all you need to do is login to our Agent Pro website at www.agentpro.co.nz (don’t forget this link is at the bottom of every page on the website) – sign up if you have not already done so, then choose your desired suburb, check that the month you want is available and then buy online with a valid credit card.

December 10 2009 | Market stats and Nielsen Online stats and Online marketing | No Comments »

Providing greater insight into the NZ property market

I have just returned from the annual Inman Connect conference in San Francisco. This conference is an intense 3 days of technology and real estate fused into a demanding schedule attended by over 1,500 agents together with around 200 technology and web company participants – all very much focused on the future of real estate online.

A key theme of the conference (a broader outline is detailed later in this email) was the transparency and critical importance of good information on the property market. This is something that at realestate.co.nz we see as a key principle which we uphold to assist the industry better manage their relationship with clients by providing timely, relevant and unique information.

Since April we have been publishing each month the NZ Property Report a unique insight into the property market from the perspective of inventory movements – new listings and asking price expectations. This data is being seen very positively by economists and commentators as it provides a lead indicator of the trends in the market.

In addition to the latest NZ Property Report citing the rise in listings, we are tracking a very strong level of web traffic on realestate.co.nz as with other real estate websites over the past month. These statistics are detailed in this short report which can be downloaded here which provides some helpful charts and statistics on the market and the website which you can print off and use in client presentations.

Some key points to note in the presentation:

• Overall search traffic on real estate website in general climbs back over 1,000,000 sessions per week
• Strong seasonal early spring pick up in searching for property
• The top 2 websites dominate the market with a clear split of audience between them
• Realestate.co.nz continues to drive more international traffic – it is clearly the #1 site with 50% more traffic than any other website

August 14 2009 | Market stats and Web facts | No Comments »

Sales sheet for realestate.co.nz

I was asked today by a licensee for a sales sheet his team could use when presenting the site to vendors. He was keen to be able to share pertinent information on the rich comprehensive content of the site as well as the scale of traffic.

More than happy to oblige I have developed this portrait format sheet which can be downloaded as a pdf and uses in sales presentations.

The measure of traffic comes from the latest data from Nielsen Online who produce this ranking of the top websites each month – this one for April showing the realtive position of each website. As a point of note when comparing April 2009 with April 2008 the total traffic (unique browsers) to realestate.co.nz is up 41%, whilst the total of all sites is up just 6%.

May 08 2009 | Market stats and Nielsen Online stats | No Comments »

Website Business Report – March 2009

The real estate market enjoyed a strong performance in March with total sales of 6,694 a 29% increase over March 2008 – certainly not of the volumes seen during the heady days of 2005 -2007, but certainly enough to stimulate some optimism that we could be past the bottom in terms of sales volumes.

In the online world the level of activity continues to grow and grow. The latest statistics from research in the USA for the latter half of 2008 shows that 94% of all property buyers aged 25 to 44 used the web as part of the buying process! The update for the NZ data will be released in late June of this year and is likely to show similar high levels.

In terms of visitor numbers for the period covering February and March total visitor sessions across all real estate websites (as measured by Nielsen) consistently exceeded 1 million per week, up 21% on the prior year.

Realestate.co.nz continues to outperform the market with a significant 377,939 Unique Browsers in March an increase of 42%; more than twice that of our competitor and over 4 times the market growth.

The full report can be downloaded here

April 20 2009 | Market stats and Nielsen Online stats and Special offers and Web facts | No Comments »

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 | Market stats | No Comments »

Monthly report – December 2008 fact sheet

December was a record month with 300,000+ unique visitors an increase of 55% over last year and 22% more than in November.

Most significant is the specialised appeal of the website – within the total of 300,000 unique visitors was 189,500 who DID NOT visit Trade me property website in the month – that is over 58% of the total just visited realestate.co.nz to check out the most comprehensive selection of property on the market.

Full details of these facts are in the January 09 fact sheet here.

January 08 2009 | Market stats | No Comments »

Record end to 2008!

We are right on target for 2009!!

The month of December was the most active month ever for realestate.co.nz since we launched two and a half years ago – we broke the barrier of 300,000 unique browsers for the very first time!

Clearly the benefit of the closure of allrealestate and the redirection of traffic has assisted the site reach out to a new audience, but this level of audience in December (which is always the slowest month) is unprecedented. Just look at the numbers.

December 2007: 193,418 Unique Browsers visited the site

December 2008: 300,164 Unique Browsers visited the site

That is a 55% increase over last year. It was also over 20% higher than the traffic in November, all other real estate websites recorded a drop in traffic between November and December.

Very importantly the new visitors spend even longer on the site than the prior months. There were some detractors who believed that a growth in audience would lead to shorter duration visits – far from it. In November the average visitor used the site for 8 minutes 51 seconds, in December 9 minutes 53 seconds.

It is really important to remember that whilst December is historically the quietest month of the year in regard to viewing property – the months of January. February and March are the most active. Last year realestate.co.nz traffic went from 193,418 in December to 288,476 in January!

2009 is going to be a very exciting year – it has started that way already and it is only the 5th day.

January 05 2009 | Market stats | No Comments »

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 | Market stats | 2 Comments »

Prepare for a huge upsurge in viewings

Whilst traditionally the viewings of real estate listings on websites starts to slow in late November and through December, the first week of January by contrast always sees a massive surge of viewings.

Over the past 2 years we have seen increases of between 40% and 50% in the month of January as compared to November and December – January generally results in the biggest month of the year for website visitors.
This year will be even bigger for realestate.co.nz and your listings on our site – why?

  1. Because with the closure of the website of allrealestate.co.nz the buyers will be flocking to our site
  2. All traffic from allrealestate.co.nz and realestate.com.au in Australia will be boosted even further the traffic to realestate.co.nz
  3. With more than 113,000 listings people will be very eager to review the most comprehensive selection of properties to make sure they get the best deal – realestate.co.nz remains the clear leader in content of any real estate website – this is what is important to serious property buyers

So get ready for a surge of interest and email enquiry (as well as telephone enquiries) as your listings are showcased to a global audience that will hit record levels in January.

November 27 2008 | Market stats and Web facts | No Comments »

Dominate your marketplace with a featured listing

This is a tough market with as likely-as-not, a lot of very demanding vendors and a scarcity of buyers. What you need is help to sell those listings – what you need is a competitive advantage to get more prospective buyers to see your listings and really consider buying that property – we are here to help you.
We have featured listings – as we have said in the past these high profile adverts drive over 10 times the traffic as compared to a standard listing. But you may not know that they also enable you to completely dominate the local suburb search. Look at this example to see how this works.

This property was listed at the start of September with a 4 week campaign leading up to the auction on the 1st October.

For the 2 weeks in the middle of the month the property was bought as a featured listing on this website by the agent. The result was an enormous spike in visitors the listing! – during the month of September total viewings amounted to over 4,400 with 4,250 of those viewings during the period of the promotion, on one day total views exceeded 900 – so in this situation featured listing drove traffic not 10 times – but over 28 times!
Not only that but during the weeks when this property was advertised as a featured listing it completely dominated the suburb viewings. At that time there were 18 properties in the same price range in the same suburb. In each of the 2 weeks of the featured listing campaign on the website this property had over 70% of all the viewings of that suburb for that price range! – 7 out of every 10 people looking at Cashmere Hills property with a budget of between $700k and $1.3m looked at this listing.

So – you may well ask – what happened at the auction last week – did it sell?

Well it did not sell. But the fact is realestate.co.nz is a marketing tool – it does not sell properties – that requires your skill and expertise matched to the market, and just as magazines don’t sell properties, what we do is provide a very powerful marketing tool for your listing. You may also be interested to know that this property received over 28 emails from this website during the campaign, many from overseas.

Featured listings work! – every week more and more agents are choosing them over traditional newspaper ads and reaping the rewards. Normally priced at $795 for 14 days – we have a special promotion until the end of the year – just $295 or for $395 with a free “Website Telly” video presentation. Give us a call on 0800 732 536 to check out the availability in your suburb!

Check out the quality of these Website Telly videos by viewing the video on this listing – the professional voice over and music enhance the existing photos to really sell this property – this video has been viewed over 900 times so far – how would you like a 30 second TV-like commercial for one of your property listing??

October 07 2008 | Market stats and New feature and Special offers and Video | 2 Comments »

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