Published 29 October 2006
43% of respondents to a survey on the allrealestate.co.nz website expressed confidence that New Zealand residential property prices would rise over the next 6 months.
22% saw no change and the remaining 35% expected prices to fall. Allrealestate.co.nz general manager Shaun Di Gregorio said the survey painted a picture of a relatively stable market. 429 people responded to the online survey during the week to 16 October.
The Australian listed REA Group (realestate.com.au Ltd, 55% owned by News Ltd) owns & operates the allrealestate New Zealand website, which has more than 31,000 listings.
The group has expanded rapidly this year, buying Propertylook in Australia in April, Hubonline in May and News Ltd’s London Property News publishing group in July.
On the basis of Nielsen//NetRatings surveys, it claims second spot in New Zealand online listing websites in terms of unique visitors, top spot for sites dedicated solely to residential property listings, and more international unique visitors than any other.
Propertylook’s New Zealand site was an offshoot of its Australian website but REA will launch a realcommercial site in January, dedicated to New Zealand and operated locally.
Attribution: Company release, story written by Bob Dey for this website.