Trade Me Property solidifies status as property marketing powerhouse
Trade Me Property recently published an interesting infographic detailing some key statistics on their website usage by home buyers. I thought the data worthy of highlighting and reviewing.
The figure which, whilst not central to the stats on property is always somewhat staggering is that Trade Me has over 3.2 million accounts and over 730,000 daily visitors across its site. There would be no other media save only for the gorilla-like Facebook that attracts such an audience or holds such an account base of NZ’ers. Certainly no traditional media company comes anywhere close to that which makes it all the more surprising that Fairfax, having shown the smarts to acquire the company then made the decision to divest.
Anyway back to property. Trade Me Property now attracts over 120,000 visitors a day which represents 4 times as many buyers as any other site (clearly referencing the 2nd placed site of realestate.co.nz). This level of daily visitors is staggering for the reality is that if you added together all the active property buyers and sellers in NZ to the total of all the agents, to all of those looking to rent property with all investors and then add commercial property agents and their clients, in total you might get somewhere close to a third of that number. That means that right or wrong the appeal of viewing property is a national pastime. However whilst we often label ourselves as a nation of property fanatics I can tell you that with my experience of similar property portals around the world we are not that different. In fact in Australia the ratio of visitors to population on the leading site realestate.com.au is higher than Trade Me Property attains and in the UK RIghtmove the leader there is the 6th most visited website in the UK across all categories.
Not only does Trade Me achieve this enormous visitor traffic on a daily basis they also manage to engage those visitors for longer than any other property site. This results in the staggering fact that 8 out of 10 of all time spent by people on property website s in NZ is spent viewing property on Trade Me.
Added to these hard statistics sourced from market analysts Nielsen, are some new data from a recent survey the company undertook from a survey of over 600 qualified buyers. The research shows that more than half of all buyers found the property they bought on Trade Me with 63% of buyers rating Trade Me as their #1 place to find property.
Clearly Trade Me has the lions share of eyeballs and they are leveraging this to seek to deliver every growing financial returns which are so required of a publicly listed company. The question and challenge for the company is more by how much can Trade Me can grow its Property division. That is the challenge for the new leader of that business when they are appointed.
Related articles on Trade Me and the latest issues around their new pricing model for agents: