We have all heard endlessly that the market is suffering from a shortage of listings - so what would be your reaction if I said that across the country half of all properties for sale have been on the market for more than 3 months - waiting for a buyer? Further if told you that 1 in 4 of the properties for sale today across NZ has been on the market since Christmas. 

The data drawn from analysis of the listings on Realestate.co.nz shows some interesting insight into the make up of properties on the market and gives an insight into really how long it can take to sell a property, especially in provincial NZ.

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How long has that house been on the market?

We have all heard endlessly that the market is suffering from a shortage of listings - so what would be your reaction if I said that across the country half of all properties for sale have been on the market for more than 3 months - waiting for a buyer? Further if told you that 1 in 4 of the properties for sale today across NZ has been on the market since Christmas. 

The data drawn from analysis of the listings on Realestate.co.nz shows some interesting insight into the make up of properties on the market and gives an insight into really how long it can take to sell a property, especially in provincial NZ

 

Auctions are once again dominating the Auckland market

In the past 7 days close to half of all new listings in Auckland were Auctions!

This supports the media coverage last week, but whilst half of new listings are choosing to be marketed as auctions the success rate of auctions continues to come down to interpretation of this art form of reporting - who you believe and what you judge to be an auction sale!

 

New challengers emerge to take on Realestate.co.nz and Trade Me Property

We have not seen a serious competitor to challenge the incumbents for many many year (if ever) and then suddenly we have one attacking from the side with a commercial property site and two head on. 

Sadly I think they are all 3 doomed to fail, not because they lack the necessary brand presence or they lack a compelling user experience or because they lack content (all of which they all do!) - it will be because of an even simpler reason why they will fail - intrigued? 

 

The seasonal factor in the property market 

We are now well into Spring - the most active time of the year for the property market as people re-engage with both selling and buy after the winter hibernation - Fact or Fiction ?

Well analysing the data shows that it is half right - right in regard to listings but not in terms of sales. Seasonality does play a large role in the property market and should be assessed when choosing when to market your property for sale or when to buy.

 

Property Dashboard for September

The September report marks a change in the source data for the monthly dashboard as the data from Realestate.co.nz has become unreliable in terms of timing and access. Fortunately the data can be collected separately to provide the necessary insight into inventory

 


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