Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Figures Released by Statistics New Zealand Mislead

Real Estate Figures Released by Statistics New Zealand Misleading

The Real Estate Institute of New Zealand (REINZ) has disputed figures produced by Statistics New Zealand regarding real estate office numbers. According to information released recently by Statistics New Zealand, 7,605 businesses were mainly engaged as real estate agents as at February 2003, an increase of 11.5 per cent when compared with February 2002. However the REINZ argues that 1,898 businesses were engaged in real estate in February 2003, making the increase only 0.3 per cent.

REINZ National President Mr Graeme Woodley said today Statistics New Zealand had based its figures on the numbers of people registered for Goods and Services Tax (GST) and had incorrectly concluded all of them were real estate businesses.

“Most salespeople are registered for GST, but that doesn’t make them into a business”, he said. The release headed ‘Large Increase in Real Estate Agencies’ distributed by Statistics New Zealand on 20 November also claimed that approximately 15,000 full-time equivalent persons were engaged in real estate businesses throughout the country, despite the REINZ figures which show that 13,655 people were engaged as real estate salespersons in February 2003, up from the 12,478 figure accorded in February 2002.

Information released in February by the REINZ has not changed considerably from October’s figures, which state that 1,927 businesses were engaged as real estate agents as at October 2003, up from the 1,876 businesses as at October 2002. A total of 14,406 salespersons were occupied in full-time positions in real estate businesses in October 2003, an increase when compared to the 12,046 salespersons employed in full time positions in October 2002.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Government: Delivering Lower Card Fees To Business

Commerce and Consumer Affairs Minister David Clark has today announced the Government’s next steps to reduce merchant service fees, that banks charge businesses when customers use a credit or debit card to pay, which is estimated to save New Zealand businesses ... More>>

SEEK NZ Employment Report: April 2021

OVERVIEW OF APRIL 2021: STATE OF THE NATION: April, for the second consecutive month, saw the highest number of jobs ever advertised on Applications per job ad fell 9% month-on-month (m/m). SEEK job ads were up by 12% m/m. SEEK job ads were ... More>>

Commerce Commission: Warns Genesis Over Business Billing Errors

The Commerce Commission has issued a warning to Genesis Energy Limited about billing errors concerning electricity line charges to business customers. Genesis reported the errors to the Commission. The Commission considers that Genesis is likely to ... More>>

Stats: Lower Job Security Linked To Lower Life Satisfaction

People who feel their employment is insecure are more likely than other employed people to rate their overall life satisfaction poorly, Stats NZ said today. New survey data from the March 2021 quarter shows that 26 percent of employed people who thought ... More>>

The Conversation: The Outlook For Coral Reefs Remains Grim Unless We Cut Emissions Fast — New Research

A study of 183 coral reefs worldwide quantified the impacts of ocean warming and acidification on reef growth rates. Even under the lowest emissions scenarios, the future of reefs is not bright. More>>

The Conversation: Why Now Would Be A Good Time For The Reserve Bank Of New Zealand To Publish Stress Test Results For Individual Banks

Set against the backdrop of an economy healing from 2020’s annus horribilis , this week’s Financial Stability Report (FSR) from the Reserve Bank (RBNZ) was cautiously reassuring: the country’s financial system is sound, though vulnerabilities remain. More>>