Daily Archives: November 1, 2010

October Report highlights NZ’s different sub markets

Nov 1st, 2010

One of the interesting things about Real Estate markets in any given country is the differences in the different provinces / regions. This is certainly no different in New Zealand.

In perspective, the realestate.co.nz report covering October 2010 shows NZ as having 19 defined real estate market regions. Just one of which is the Nelson region Real Estate one, but all 19 are encapsulated under the umbrella of “The NZ Real Estate Market.”

October 2010 - NZ Property Inventory Report Breakdown by Region

October 2010 - NZ Property Inventory Report Breakdown by Region

Highlighting this, the differences between the regions is frankly, pretty wide.

They stretch from Central Otago at 120 weeks of inventory currently on the market to just over 25 weeks of inventory unsold in Wellington.

This inventory situation does have a definite effect on buyer / seller interaction in each region, but no more so than when buyers move from one region of NZ to another.

This situation could further be embittered if the buyers were sellers in a previous region….and it took quite a time to sell or the overall experience felt like an ordeal.

In this case many relate what their past experiences as a seller were in regards to how buyers treated them in their old region.

Longing for the “shoe to be on the other foot,” now as a buyer, they use their old experience as a start with the new buying one, ….its a completely normal human reaction I suppose.

Something Real Estate agents in the Nelson market experience every single day, but when as the above chart shows what it does…… its to be expected.

CREDIT – October 2010 NZ Property Report – visit here.