Archive for October, 2009
August mortgagee sales slip back from record highs
Filed under: Blog, Terralink Mortgagee Sales Report Responses: 1 Comment
A total of 241 mortgagee sales were recorded in the month of August as reported by Terralink – down from the peak of 321 reported in July. This takes the year-to-date figure to 1,824.
When compared to this time last year the m
onthly total shows an increase of 141% whilst the year-to-date shows a 285% – the year-to-date figure of Jan to August in 2008 was just 641 sales.
The decline from the peak was in someways expected as the lead indicator of mortgagee listings as tracked on realestate.co.nz had been witnessing a stabilising in the stock level of mortgagee listings by real estate agents for a number of months. The number of listings of mortgagee residential properties peaked at just over 400 in the first few months of this year and currently stands at somewhere over 300. It should be noted that the mortgagee sales reported by Terralink do include non-residential sales and this accounts for the overlap of sales to listings as shown in the chart below.
The mortgagee property sales not only show large actual numbers but also have risen to levels over the past 18 months that represent a small but significant component of all residential sales. The chart below track the past 14 years and shows the actual sales in each year for the first 8 months of each year represented as the proportion of all residential sales in those periods.
Tags: mortgagee
Address verification service will assist in emergencies
Filed under: Blog, News Responses: 4 Comments
Terralink – partners in the Zoodle website, have launched a new free website which will be invaluable for the emergency services and ultimately all NZ’ers.
The New Zealand Address Register which is hosted at www.myaddress.co.nz is a simple tool to allow any home owner to verify their property address against the database Terralink holds for all properties across the country, currently amounting to close to 2 million.
Terralink provide the database services to the emergency services which ensure that when call outs occur the relevant services can locate the property speedily and thereby provide support as required. This is fine if your house is 45 North Street – a street that is clearly marked with a road name and the house has clear single dwellings on single sections. However say you live in a subdivided section or on the corner of 2 roads or out in a rural area, these scenarios may result in you having a different street address than is registered or even different for mail delivery.
Terralink’s new service allows you to locate your property and then ‘report’ the added information which you feel will help the emergency services find your property with ease – especially if you normally call your address one name and the postal service calls it another.
Clearly the database update is going to be a great benefit – not only for the emergency services, but also naturally for Zoodle as our service of property information relies on an accurate and comprehensive database of property addresses, something that myaddress.co.nz will greatly enhance.
Tags: addresses, emergency services, terralink
Barfoot & Thompson reports strong September sales
Filed under: Barfoot & Thompson Statistics, Blog Responses: 2 Comments
The month of September saw Barfoot & Thompson report total sales across the Auckland and Northland region of 917 residential properties. This was 64% increase on the month of September last year and interestingly 36% up on the month in 2007 when the market was entering the recessionary phase.
Seen in context this sales result is strong as it is only 13% down on the month of September 2006 when the market was by any measure very heated.
On a 3 month moving average basis as represented by the chart below the recent sales for the company are strong as measured against the prior 2 years, indicating as the report from Peter Thompson highlights that the spring traditional “bounce” is occurring. The yellow bars in the chart represent the months of September in each of the past 3 years.
In terms of pricing, the average price fell slightly (3%) from the August figure of $532,023 to the September average of $514,890. This average price is up 4% on September last year and 8% off the peak of the market in December of 2007.
The chart below tracks the past 3 years of average price and year-on-year variance and clearly shows the recent strengthening of prices. A situation that Peter Thompson sees as prices having stopped falling and at the same time not overheating.
The other component of the report was the details of new listings. A reported 1,466 new listings were made by Barfoot & Thompson in the month, up 12% on August. This increase very much reflects the total market picture detailed in the NZ Property Report for September published by realestate.co.nz. The total region of Auckland had 4,015 new listings added to the realestate.co.nz website in September up 15% on August and up 13% on September 2008.
Tags: Barfoot & Thompson, house sales
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