In promoting New Zealand Real Estate for sale, agencies and private sellers must determine the most effective avenues of expenditure to gain maximum buyer response.
For those in the Auckland province, the Saturday “Herald Homes” is usually the starting point. Browsing this each Saturday morning is almost an obsession with the majority of Kiwis. One benefit of exposure in this medium is the fact that not only are active purchasers attracted but those not in real estate buying mode also identify properties of interest to them, attend the open home or make enquiry to the salesperson, and in some cases make a rapid decision to place their own home on the market in order to purchase, i.e. this is the one medium which attracts those unaware that they are in a position to purchase.
Obviously, the web is becoming a large and increasing avenue for those looking to purchase. Trade Me is the most popular site with purchasers but industry and local office sites are also playing an important role.
Promotion in local office windows and on signage outside the property will always be of significance to local purchasers.
Over the past year or two the worldwide financial crisis has created an upturn in the number of people unable to cope financially. For those searching the web for ‘New Zealand Real Estate for sale’, almost 1 in 5 will include the word “mortgagee” in their search criteria. The 2 peaks in the number of people searching for this type of forced sale occurred in March 2008 and April 2009. The number of properties listed as being a mortgagee sale, have remained steady at approximately 3500.
With the improvement in the economy, this number will decline during 2010.
For those searching for New Zealand Real Estate for Sale, the supply of available properties has been down in 2009 over previous years by something in the order of 15 – 20%. The last quarter of 2009 saw the usual trend of an increase in supply, but this was down approximately 11% over the previous year.
It is impossible to predict with any degree of certainty, but the trend is that the number of available properties is on the increase, and world influences aside, this is likely to continue through 2010.
Confidence is on the increase, so there is nothing on the immediate horizon to make one think that prices will also continue their gentle upward trend established in the latter part of 2009.
The obvious conclusion anyone searching for NZ property for sale would reach is that, although prices are gently moving forward, they can have confidence that the cost of finance will remain low whilst the value of the equity in homes continues to remain strong.