I came across this great article put together by Jonno Ingerson who is Director of Research at Corelogic .
For home sellers, listing method options can be a difficult decision to nail down. Jonno and his team have reviewed the listing methods both nationally and regionally over the past year and the results show clear regional differences…..
For vendors, listing method can be a difficult decision. We’ve reviewed listing methods both nationally and regionally over the previous year, and the results show clear regional differences. Across the country, vendors prefer different methods of listing for selling property. The nationwide auction figure is 27% of total listings, with ‘asking price’ proving the most popular, accounting for 36%. ‘Negotiation’ stays relatively consistent at 20%, while ‘enquiries over’ improves in popularity – up to 12%.
Auckland: Auction reigns supreme
The most widely acknowledged differential being the popularity of auctions in Auckland. This is very much the case with 54% of properties in Auckland first listed by this method.
Hamilton & Tauranga: “Asking Price” wins
Hamilton and Tauranga share similar profiles, with auctions still relatively popular at 18% and 24% respectively, but ‘asking price’ is by far the preferred method in both centres, accounting for 70% and 62% of listings respectively.
Wellington: Tenders still popular
Across Wellington, we see another different dynamic, with auctions and asking price significantly diminishing in popularity. In their place are ‘tender’, ‘enquiries over’ and negotiation, with ‘tender’ especially preferred in the City with 35% of properties first listed by this method.
South Island: Christchurch and Dunedin both negotiate
In the South Island, our two major centres have distinctly different profiles as vendors in Christchurch are fans of auctions and negotiation, but less so of asking price or tender. Those in Dunedin shy away from the auction, in favour of asking price, with negotiation still the most popular and ‘enquiries over’ still a relatively popular listing method.
Source: Quotable Value
