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Monday
Jan312011

Top Comment

The best comment for the month came from Denis Tegg on the Freedom of Information post, and is  reproduced here:

Bill..

regarding your observation "neither the established radio, or newspaper have been prepared to undertake any form of investigative journalism, and the status quo has clearly been regarded as sacrosanct,"

I have a classic.... each week we see several reports in the HH on nation-wide trends in the property market, but nothing about local prices and trends. I imagined this local information was not available but it turns out it is. So, I wrote a letter to the HH in mid December providing some of this info, but it has not been published. I have submitted a revised version again today ... as below..

"There are plenty of articles published each week showing New Zealand-wide sales volumes, prices and trends sourced from Real Estate Institute reports. But I would like to read about what's going on locally.

It turns out that the Real Estate Institute reports do provide property statistics specific to the Thames-Coromandel -- and they reveal a very different local property market compared to New Zealand as a whole.

The REINZ report for December 2010 records that in November 2007 the median price in the Thames-Coromandel was $415,000 with 69 sales. In November 2010 the TCDC median price was $325,000 (a decrease of approximately 21% in three years) with 46 sales, and down from $370,000 in October 2010. Nation-wide, the median price has fallen 4.7 % from late 2007.

In November 2010 the Coromandel region recorded a fall of - 8.6% in asking price expectation compared to 3 months earlier, while the New Zealand-wide figure rose +1.4%.

Thames-Coromandel has an inventory of 262 weeks of equivalent sales compared to the NZ average of 53 weeks. This means Thames-Coromandel has property inventory equivalent to 5 years of sales. 350 new TCDC listings were made last month, up 35% from last November - compared to a decrease of listings of 7% countrywide for the same period."

Needless to say, Denis's letter to the HH remains unpublished.

What a pity the posts do not attract more comments - I welcome criticism, and the odd bollocking.

I cannot believe that 500 regular readers remain supine in the face of some of the more outrageous claims that I have made. If you don't agree, take aim, and fire - as Sarah Pallin would say. Those mentioned do have a right of reply, but either they don't read it, hear about it, or apparently care.

A bottle of vino of impeccable provenance goes to Denis.

 

 

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