Real Estate market shows early spring buds!

The latest sales report for July issued this week by REINZ reflected what was clearly being talked about around the country by agents who are close to the business – transactions were being made, property has been selling and interest from buyers is clearly there.

The graph below tracks the annualised sales, together with the annualised value of the residential market since 1993, whilst on first glance its shows a bleak position, there are good signs.

Estimated total transactions for 2008 look to be around the 60,000 to 70,000 properties – pretty much the level of sales a decade ago. The sharp decline in sales which started almost a year ago is likely to be behind us as we head into the spring. As for prices the median price for July showed no change and this was reflected in the July figures published for Barfoot & Thompson for the Auckland region which shows that despite the media hype we are not as yet (and may in fact not) witnessing catastrophic property price falls across the board.

The sales statistics reflects the transactions undertaken in July, based on buyer interest in May and June, the beauty of the web is that information is available on today’s market now. This data can provide a key pointer to where the market is likely to head in the next quarter. The level of web traffic across all real estate websites remains pretty stable at or slightly ahead of last year as shown by the red line on the graph below.

What I think is very interesting and potentially far more exciting for this coming spring is the level of email enquiry from realestate.co.nz. I have analysed the statistics of the number of emails we sent to agents over the past 2 years and plotted it on the graph below.

What this shows is that on an indexed basis the level of email enquiries being generated from the website started to pick up in late May and has accelerated enormously since then to a level far above the relative level of enquiry last year, this I feel is a great indicator of growing interest in the property market again. Let’s hope these enquiries that you are receiving turn into valuable leads and sales – this is a really important time to make sure you are getting these emails, we send on average up to a thousand emails to agents everyday – have you had one this week?

August 14 2008 | Market stats | 4 Comments »

Realestate.co.nz is moving!

The team at realestate.co.nz is moving this month. We have been co-located in the office of REINZ for the past 2 years, however now is the time to establish our own offices as the company has grown and developed.

We have decided to stay in Parnell and have found new premises just down the road at 128 Parnell Road. The new office will allow us a better working environment for the team which has had to manage in a number of separate offices over the past 12 months as we have grown our capability.

It is worth at this time to share with you the make up of the team as we have added resources this year to meet the needs of a more comprehensive website and larger customer base.

The team now comprises 7 people with a core focus to customer service. Peter Driscoll who joined the team last year heads up the sales focus. Many of you will have met Peter over the past year as he has and continues to travel the country. Working closely with Peter is Kerry Kissane who fulfils a dual role as our training guru and team leader for our customer support team. Kerry may also be well known to many of you as she has been busy providing training and support to offices across the breadth of our customer base.

The team you may not have met, but may well have spoken to over the past year are our customer support team of Katherine Jariel, Luana McKenzie and our newest member Crystal Fell. These wonderful three are the front line support to your day to day issues.

Another new member of the team is Phil Dunn. Phil joined us last month and has the position chief operating officer, his role is to manage the programme of developments and operation of the website. Phil has been actively involved with our business for over 18 months on a contract role and to have secured his permanent involvement is great for the long term development of the site.

The new office will also enable us to implement a new telephone system which will enable us to better manage incoming calls, something that the current office arrangement has limited us to achieve.

From our customers point of view it is important to note that our main contact telephone number of 0800 732 536 will not change when we move office, nor will our postal address which remains PO Box 9284, Newmarket. All contact numbers are as ever available on the website. If you have been using the current Auckland number of 09 353 2250 this will change to 09 366 1502. When we move a recorded message will be placed on the old number to remind you of this change and the new number.

June 11 2008 | News | 2 Comments »