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 »
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 »