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Is your local Property Guide growing?

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  • Is your local Property Guide growing?

    It seems that the lead up to summer is creating a boom in listings and/or advertising. The Whangarei Property Guide seems to be growing at 10% per week! According to tried and true property investment statistical analysis techniques, within 6 months it should be well over 800 pages long!
    You can find me at: Energise Web Design

  • #2
    Maybe the agents are talking the vendors in to more 1/4 and 1/2 page ads?
    DFTBA

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    • #3
      Seeing it here too.

      Many of the "New" listings seem oddly familiar. I wonder if much will actually sell this time round?

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      • #4
        I noticed the local West Auckland rag was really fat yesterday. The housing supplement inside it is huge.
        Squadly dinky do!

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        • #5
          Originally posted by cube View Post
          Maybe the agents are talking the vendors in to more 1/4 and 1/2 page ads?
          I think that is exactly what happened. You can see lots of properties advertised in half or even full page( South and East Auckland)

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          • #6
            Desperate REs and vendors?
            "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

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            • #7
              The REA never pays for a 1/2 page ad because they're desperate.

              They get the vendor to pay for it, thus advertising the agent and their company for free. It's called Vendor Financed Marketing in the industry... and quite a few agencies judge the performance of junior agents as much on VFM targets as actual sales.

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              • #8
                I'd say it could have a lot to do with desperate paper owners. I'm sure the real estate ads keep these guys alive. And with the cooling of the RE market and the ascendance of the internet advertising the papers would be charging a lot less I reckon.
                Squadly dinky do!

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                • #9
                  Interesting point..... I'll ask my pet agents if their rates have dropped

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                  • #10
                    In October, there were 57 properties sold in Whangarei City and not one of them was over $500k. Is it the same everywhere else? Only low-mid range stuff selling?
                    You can find me at: Energise Web Design

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                    • #11
                      Anecdotal evident in Wellington suggests its the mid - high stuff ($500K-$800K) that is selling (bought by professional civil servants who still have their dual incomes). First home buyers are not buying much.

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                      • #12
                        Originally posted by Robin McCandless View Post
                        Anecdotal evident in Wellington suggests its the mid - high stuff ($500K-$800K) that is selling (bought by professional civil servants who still have their dual incomes). First home buyers are not buying much.
                        I value your insights and suggestions Robin; very sensible.

                        Re the above; which I have no reason to doubt.

                        If that is true....."Houston; we have a problem"

                        cheers
                        SB

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                        • #13
                          Originally posted by drelly View Post
                          In October, there were 57 properties sold in Whangarei City and not one of them was over $500k. Is it the same everywhere else? Only low-mid range stuff selling?
                          I think it is the same everywhere, low-mid range stuff tends to sell quicker. There are still lots of first time home buyers out there buying in East Auckland at the moment. Following are some stats of East & south Auckland from REINZ on Oct sales.

                          DWELLINGS

                          Papatoetoe Area
                          Number of Sales 71
                          Value of Sales 27958388
                          Median List Price 377000
                          Median Sale Price 355000
                          Median Days to Sell 39


                          Manurewa Area
                          Number of Sales 46
                          Value of Sales 14853980
                          Median List Price 294000
                          Median Sale Price 269000
                          Median Days to Sell 32


                          Manukau City Total
                          Number of Sales 267
                          Value of Sales 127970569
                          Median List Price 479000
                          Median Sale Price 462500
                          Median Days to Sell 33

                          Papakura Area
                          Number of Sales 30
                          Value of Sales 10683700
                          Median List Price 336500
                          Median Sale Price 314500
                          Median Days to Sell 37

                          Eastern Beaches
                          Number of Sales 149
                          Value of Sales 84878201
                          Median List Price 555000
                          Median Sale Price 539000

                          Median Days to Sell 33
                          Last edited by Momo; 24-11-2010, 08:40 AM.

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