- Community >
- Announcements >
- July 2010
Archive for July 2010 announcements
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.
 |
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.
Sales Summary error
If you've sold an item in the last week you might be seeing something weird going on in your Sales Summary (which you can access through My Trade Me).
We understand several people are seeing an extra column in their summary which sets out 27 items that they will not have sold.
First of all, we're sorry this has gone awry.
Second, we have worked out where the issue is and we have a bunch of people in a cold sweat working to fix it. We are aiming to have it sorted out later today.
UPDATE 5:55pm Monday: The fix for this problem will be rolled out tomorrow morning. Apologies for not getting it sorted today.
UPDATE 10:55am Tuesday: This problem has been sorted out and resolved.
Fee changes in Jobs
The cost to list a job has increased from $99 to $129 (incl. GST). The price of job packs has also increased, and the cost to feature a casual or job pack listing has risen from $49 to $69 (incl. GST).
This is our first price increase in nearly two years, and across that time both traffic to the site and average applications per job have more than doubled.