Gallery price change: Sorry!
Back on 26 May we introduced a Gallery price change which saw the fee for adding Gallery to a listing go up from 55c to 75c in around half of our categories, and down from 55c to 35c in the other half.
We made the change because we thought it would result in a better reflection of the value that Gallery brings in different categories, and that it would provide a better experience for both buyers and sellers on Trade Me. However, that hasn’t proved to be the case. We got it wrong and we’re sorry.
We have decided to unwind that price change and put things back the way they were. From 12:01am on Wednesday 21 July, Gallery pricing across all categories will be back to 55c (except Books and CDs which will remain unchanged at 25c).
As well as returning the pricing to 55c for everyone, we’re also saying sorry for mucking up by having a Free Gallery Day. This will be on Tuesday 20 July, kicking off at 12:01am and running through until 11:59pm. (Free Gallery will apply to all new listings, as well as Gallery upgrades to existing listings.)
What’s happening in the jobs market?
Here’s our take on the state of the employment market, based on a study of 30,000 listings on Trade Me Jobs in the second quarter of 2010 (April-June).
1. Momentum is growing?
We’ve seen a surge in activity in the past few months, a sure sign that things are heading in the right direction. Listing numbers grew 15%, an indication that companies are expanding and consumer confidence is on the rise ahead of the upcoming tax changes.
2. IT jobs still #1?
IT, sales and HR & recruitment have all been particularly active, with listing numbers up 30% compared with the same time last year.
Auckland (21%), Waikato (20%), Gisborne (27%) and Wellington (19%) all delivered strong listings growth, but it was Taranaki that lead the charge with a 43% increase.
3. Pay packets down?
Pay packets on offer for the majority of jobs have dropped over the past year – aside from IT and banking & finance, which saw salaries for IT project managers and business analysts grow by 17% and 11% respectively. (Click to expand the table below.)
In terms of location, Wellington was one of the few areas where pay rates rose, and Wellington City topped the highest paid locations with an average pay of $74,647. (Click to expand the table below.)
4. What does the future hold?
We predict that the demand for highly skilled candidates will continue to increase, and so will the pay packets required to attract them.
However, NZ is not immune to international events, and we expect the rate of growth in the employment market to slow amid global concerns about a potential ‘double-dip’ recession.
Are you job hunting?
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Trade Me and Rugby World Cup tickets
We’ve received a few enquiries about selling Rugby World Cup 2011 tickets on Trade Me. The starting point for Trade Me is pretty simple: we really want Rugby World Cup 2011 to be a massive success, so we won’t do anything that might undermine this.
Rugby World Cup 2011 is a “major event” under the 2007 Major Events Management Act, which means that tickets can’t be sold above face value. The T&Cs of the tickets also prevent resale or transfer to anyone you don’t know personally. So to be safe, you should assume you can only pass on tickets to friends and loved ones.
However, it’s possible a secondary market will be set up closer to the event. We’re talking to the good people at RWC 2011 about ideas for this, but it’s potentially a complicated little beast, and nothing has been decided yet.
It’s also important to remember that for any event, we don’t let people sell tickets they don’t have. People won’t be in possession of their RWC 2011 tickets until about a year from now, so even if we do end up allowing ticket sales, they won’t be able to be listed until then at the earliest.
In case you were wondering, tickets are a pretty tiny part of our business, not a huge money-spinner. We’d need to do some special work to cater for the conditions around RWC 2011, but we’d like to be part of the event in a constructive way. In simple terms: if we can help, we will.
If there are any interesting developments we’ll post an update here, plus RWC 2011 has lots of useful info at rugbyworldcup.com, or you can follow them on Facebook.
Rentals: Our take on the second quarter of 2010
Each quarter we run some numbers on the state of play in the rental property market. Here's a few quick comments on what we've seen over the past few months (April-June 2010), and some comparisons with what we saw at the same time last year. Click to expand the table below too.
1. Supply is down
- The number of rental properties listed has continued to contract, and nationally supply is down 18% compared to this time last year.
- Anecdotally, we’re hearing the drop in supply is due to reduced turnover as tenants are sitting tight in their properties; and landlords are opting to lock tenants into long-term tenancies.
2. Demand is up, and so is rent
- Demand increased sharply, with the average number of enquiries per listing up 22% compared to this time last year.
- The national average rent has increased from $365 to $380, up 4%. We didn't fall off our chairs when we saw the rent tick up as last quarter supply was tightening and interest from tenants was on the increase.
3. Other bits & pieces
- The impact of the announcements in the Budget appears to be minimal at this stage, although it’s early days.
- Wellington was pretty resilient with listings down only 3%. Demand from tenants bucked the national trend too, declining in the quarter. In the capital, it looks like landlords and tenants are hunkering down for the winter.
- Across the Greater Auckland region and in Christchurch City there was a significant drop in rental properties available, and a big lift in demand from prospective tenants. If you're a tenant in these areas, brace yourself for a rent rise.
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Email Delays
Unfortunately we experienced a delay in sending end of auction emails between 8pm and 10pm this evening. All emails are sending now but unfortunately some were delayed. We’re extremely sorry for the inconvenience we know this would have caused and we’re looking to make improvements to prevent a repeat occurrence of this problem.