Trade Me analysis shows quakes' impact
Thursday 20 September 2012
An analysis of the listings on Trade Me shows the huge impact the Christchurch earthquakes have had on market behaviour across the region, says ANZ.
By The Landlord
In its latest Property Focus report, the bank said the quakes had caused a lot of section sales on the outskirts of Canterbury, as residents of the city went in search of new homes.
But in comparison with the rest of the country, and not include Canterbury, the Queenstown-Lakes area has a higher proportion of section and apartment sales, the report said. Also high on the list were Buller and Westland.
It said these markets were more vulnerable because section and apartment prices are more volatile than standalone houses.
Its report also showed the contribution universities have to rental markets.
The number of houses listed on Trade Me to rent is about a quarter of the number listed for sale.
Wellington, however, has a ratio double that and Auckland sits on 37 per cent. Manawatu-Whanganui and Otago also have proportions that exceed the average.
Nationwide, there were 13.1 houses for sale on Trade Me per 1000 people, up from 11.9 in March 2010 and 8.4 five years ago.
At 44.2 per 1000, the West Coast is a standout and Northland is not far behind at 39.7 listings per 1000.
The report’s authors said this could not be put down to the size of the regions because Gisborne only had 6.7 listings per 1000.
Comments from our readers
No comments yet
Sign In / Register to add your comment
Global ratings agency Standards & Poors is the latest to join the chorus of predictions around potential house price falls in New Zealand – and they’re picking a 10% drop.
Auckland ’s long-term future is sound as well situated residential developments will always sell and demand for affordable housing remains strong, a leading non-bank property financier says.
New mortgage borrowing rose by roughly $1.6 billion in May as the property market showed signs of recovery from the Covid-19 lockdown.