In NZ, Capital Cities are 1,2,3 but then…

Tuesday, 10th April 2012

After yesterdays post,  I have been contacted by 3 nay-sayers already.

No, it seems they won’t go public in the comments section, they prefer to email me, on a semi – anon basis to say that because Nelson prices are so high, that’s exactly why they have seen a couple of For Sale signs on some properties around town…still there for a few months now.

Well, I know the facts, and let me tell you…..they most definitely contrast with what these folk are trying to tell me.

So about here, I thought it’d be handy to find a stat that may enlighten these questioning cynics. (I know whats happening on the ground…no doubt about that – but it seems all of them have to see it somewhere in “black & white.”)

Actually I didn’t have to look too far, nor too far for very current & relevant figures.  Cue…the regional inventory statistics…from just last months NZ Property Report, published just last week on www,realestate.co.nz .

Data - www.realestate.co.nz April 2012

The what?

Each month, New Zealands leading property website, www.realestate.co.nz, publish the NZ Property Report, and typically it presents itself on line on their site on the 1st of each calendar month.

Yes, amongst many other topics, it talks about up and downs, it talks about the number of new listings each month (aka the so called supply & demand situation)  by region, etc…..but, crucially one of the most important metrics, and one that is most definitely a “market based one” is that of the DOM.

In plain english “days on market.” In other words how long a property would characteristically be on the market, prior to an unconditional Sales & Purchase Agreement being confirmed, .aka SOLD.

In case you are wondering, in the commercial market this is taken as a “GOLD” measuring stick to a towns viability.

All I can say is next time, for the sake of your credibility as a valuable property real estate critic / commenter, and one to whom the public should be introduced, please make your voice heard in my comment section. That way everyone gets to know your thoughts….and I have to answer.

April 09 2012 10:22 pm | Buyers and Nelson and New Zealand and Sellers and Stats / Sales Data and The Market

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