Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search says unfazed by Trade Me price cutting

Trade Me property's industry-owned rival says it won't be affected by 'desperate fee cutting'

By Tina Morrison

Aug. 1 (BusinessDesk) - Trade Me Group's main rival for property listings, industry-owned, doesn't expect its "dominance" in the market to be affected by New Zealand's largest auction company cutting its fees for agents.

Wellington-based Trade Me lost market share of property listings since it tried to push through price hikes to agents starting late last year, according to a report by Craigs Investment Partners analyst Stephen Ridgewell, which showed Trade Me had 45,978 properties listed compared with its rival's 54,874 properties. However Ridgewell said Trade Me's market share should recover after it agreed to back down on the plan this week.

But chief executive Brendon Skipper, who headed up Trade Me's property unit for seven years before taking up a job with its rival in October, said the industry-owned website didn't expect to be affected by "any desperate fee cutting" by its competitor.

" will continue to offer a low subscription price, which is around one quarter of the new rates being charged by Trade Me," Skipper said.

Shares in Trade Me slipped 0.3 percent to $3.47, having dropped 14 percent this year.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news