Only 2.8% of searches for Auckland properties on Realestate.co.nz came from east Asia

Only 2.8% of searches for Auckland properties on Realestate.co.nz came from east Asia

There was a slight drop in the average asking price of homes listed for sale on Realestate.co.nz in July and a reasonable jump in the number of homes being listed for sale.

The average asking price of homes newly listed for sale on the website in July was $526,344, down 1.3% compared to June's average asking price of $533,515, but up 10.6% compared to July last year.

The website gained 9676 new listings in July, which was up 10.6% compared with June and up 5.6% compared with July last year.

In Auckland where the housing market is under the greatest pressure, the average asking price was $779,912, down marginally from June's record asking price of $803,713 and up $97,096 (14%) compared to the July 2014 average price of $682,816.

There were 3649 new Auckland listings on the website in July, up 16% compared with June and up 20% compared with July last year. (See the chart below for the regional breakdown of new listings on the website in July).

Realestate.co.nz chief executive Brendon Skipper said demand for properties had remained strong over winter and houses weren't hanging around for long once they were listed for sale.

That was showing up in the record low level of inventory on the website, which is the total number of properties available for sale on it at any one time, expressed as the number of weeks it would take to sell that many homes at the current average rate of sale.

Skipper said Realestate.co.nz's inventory levels in July were at their lowest level since the company began collating inventory data in 2007.

In Auckland where demand for properties was greatest, there was just nine weeks of inventory on the website compared to the long term average of 25 weeks.

Realesate.co.nz had also undertaken research to determine what languages its users spoke and what countries they were searching from.

Skipper said the website recorded the default language settings of the devices that were used to search the website and about 5% of these were set to east Asian languages such as Chinese, Korean, Japanese and Thai, which was slightly up from 4% last year, while geo-location analysis showed that only 2.8% of searches made for Auckland properties originated from east Asian countries.

That suggested that almost half of the east Asian language speaking people who searched the site were doing so from within this country.


Our free Property email newsletter brings you all the stories about residential and commercial property and the forces that move these huge markets. Sign up here.

To subscribe to our Property newsletter, enter your email address here. It's free.

Email:  

 

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.

19 Comments

Comment Filter

Highlight new comments in the last hr(s).

Visits on a website really prove nothing unless conversions to purchasing are critical.
Actual purchasing by non-NZers, temporary residents, NZers buying on behalf of offshore or temporary residents, etc is the real data.

I would like to see the viewing figures for Chinese real estate websites, that will give a clearer picture if sediment has changed now we are getting closer to OCT 1.
once it does turn it will be interesting to see how many will sit on their houses and how many will sell as quick as they can

Freudian slip?

Colour code for auck on the map is wrong. At +20% listing change it should be green. Moving in favor of buyer.

I review trademe data, and the listings for Auckland has been slowly rising the last 2-3 weeks. The number of listing in Wellington is rapidly falling with Waikato tightening to a lesser degree. Chch listings slowly rising. The interesting data is that if you look at number of listed rental properties versus population Wellington has a tighter rental market than Auckland, and Chch has a massive over supply of properties listed to rent. Key will be mid August to early September as beyond this point will be difficult to settle before Oct 1 and avoid new landlord lending restrictions.

Vested interests throwing smokescreens to hide whats really going on.

Hougarden has a feed straight from realestate.co.nz to sellout New Zealand without bothering them with English.

Do you think Joyce has asked the unofficial strategists etc to run a counter campaign indirectly for damage control? Notice how the media generally has retreated under Government control now - Hosking on TV1, Henry on TV3.... NBR has Hooton, ...although Fran OSullivan in the Herald no longer unreservedly pro National any more.

The Herald still has John Armstrong and there anonymous 'editorials' to tow the National party line.

I thought Armstrong was an apologist for the Left?

Why on earth would you think that??

Thankfully, not the sharpest knives in the drawer.

We are just lucky the Tasman is not the Med...

Ray White partners with number one Chinese property portal Juwai
The Ray White Group announced earlier this month that it has signed a strategic partnership agreement to market all of its residential, commercial and rural real estate listings in New Zealand, Australia and Indonesia in the Chinese language exclusively on Juwai.com, the No. 1 Chinese international property portal.
http://www.raywhiteonline.co.nz/2014/09/29/ray-white-partners-with-numbe...

Ray White Remuera
China Desk Call Ray White Remuera, (09) 520 9100
All Ray White listings are also sent to juwai.com opening them up to a much larger buying pool
http://rwremuera.co.nz/about/china-desk/

Next step - chartered flights from Shanghai sponsored by ....

And they call the booming numbers from China tourists. A lot of it is probably people just flying in, doing some deals with hot money, visiting the casino and flying out. Fragile.
Similar with Education boom. Just a Ponzi to get workers for all the petrol stations. Fragile also.

Using data such as language to demonstrate English speakers are the majority users is clearly racist and discrimatory against English speakers. Susan Devoy - where are you ?

My browser is set to English but I'm Chinese! *sob* *sob* I feel so hurt.

Press releases like this are thinly veiled propaganda from the real estate industry.

Maybe Keith Ng will volunteer his services to explain why this is a load of shite.

Is an aussie housing bloodbath looming, certainly some think so. ?? http://www.smh.com.au/federal-politics/political-news/australian-housing...

Spoke to a nice Chinese couple down at our local Auckland beach. We're here on holiday but had visited a few open homes, interesting that they were saying their intention was to buy a few houses and see our country at the same time.
I wonder how many are buying here but are considered tourists? Throws the stats out a bit, especially in the auction room.