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

 

Traditional property listings spring surge fails

MEDIA RELEASE

Traditional spring surge in property listings fails to materialise

AUCKLAND, 1 November 2009 – Real estate listings in October have continued to grow on previous months but the traditional surge in new listings in the lead up to Christmas has failed to come about.

That is one observation made in the NZ Property Report, a monthly survey of market activity compiled by Realestate.co.nz, the country’s most comprehensive property listing website. The latest issue, covering October, has been released today.

Alistair Helm, CEO of realestate.co.nz says, “We are seeing a certain confidence in the market through people searching on the site and also people listing their property, but the seasonal uplift in listings has not happened as it did in years gone by“.

Figures from the report show listings are up only 7% to 13,550 compared to a 21% rise at the same time in 2008 and a 16% increase in 2007.

Price expectation is steady at $418,759 while inventory – the number of weeks it would take to sell the country’s entire available stock based on average sale times – rose slightly again in October as sales volumes remained subdued.

Helm said the combination of little movement in price expectation, the number of listings, and inventory over recent months meant the market could be considered stable at present.

The full NZ Property Report can be found on Realestate.co.nz’s Unconditional blog at: www.realestate.co.nz/blog.

About Realestate.co.nz
Realestate.co.nz is the official website of the New Zealand real estate industry, and provides the most comprehensive selection of listings across all categories of real estate. Realestate.co.nz lists over 100,000 properties at any one time, representing over 90% of all listings currently marketed by real estate professionals.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>

ALSO:

Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>