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Housing report: Listings increasing in early November
November 10th, 2009Bernard Hickey delivers a housing report in association with ASB, including a look at the number of housing listings on realestate.co.nz and trademe.co.nz. They show an increase in listings in early November.
See here for an interactive chart
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November 10th, 2009 at 10:59 am
Is that chart available on this site?
November 10th, 2009 at 12:12 pm
This is great news for potential home buyers. It may bring down house prices.
I thought we have been reading property news that house prices are rising and not enough listings in the market. Well, this news would provide some comfort to buyers.
November 10th, 2009 at 12:15 pm
Nicholas – click on the red link above that says interactive chart.
November 10th, 2009 at 12:16 pm
@Nicholas,
Just click at the “interactive chart” above – it’s a link to the chart. Is that what you are looking for?
November 10th, 2009 at 1:06 pm
I must be blind. Thanks!
Aug 08 to Aug 09, by eye ball the season adjusted up-tick seems similar. There is still a definite down trend. Not enough data really to make a meaningful analysis.
November 10th, 2009 at 1:35 pm
I agree – uptick seems to be seasonal – needs to be adjusted for that before could comment
November 10th, 2009 at 2:19 pm
The fact is certainly that there has been an increase in listings coming onto the market. The fact is that these listings have not come on at the same rate as in prior years and that the rise has come later in than prior years.
The NZ Property Report published on the 1st day of each month provides this data from the website of realestate.co.nz. The October report published on the 1st November stated that whereas the season lift from Sep to Oct is typically of the order of 20% this year it was only 7%.
The data for this report is aggregated from the realestate.co.nz website – this website has 94% of all licensed real estate office’s listings and is therefore the most comprehensive database for real estate listings – in October 13,550 new residential listings came onto the market.
Whilst listing are lower than expected the market still has on a national basis over 34 weeks of inventory – it does vary by region.
By comparison Trade me property features less licensed real estate listings but does include private sale listings, therefore aggregating the two data sources will potentially cause distortions to the data.
The NZ Property Report can downloaded in pdf form and raw data by region from here: http://www.realestate.co.nz/blog/category/nz-property-report
Alistair Helm
CEO Realestate.co.nz
November 10th, 2009 at 3:35 pm
Bernard, This is great report.
So long as the same consistent methodology is used to derive the monthly index, I think it is an awesome report. I appreciate it, keep it up. Cheers.
November 10th, 2009 at 6:47 pm
The rise has come later than in previous years because the Sept/Oct weather has been worse in than in previous years. Generally there has been too much rain to get the gardens looking nice and to finish all those other outdoor odd jobs.
November 10th, 2009 at 7:56 pm
The data is informative and useful as it includes the private sale listings.