Trade Me Backed Startup To Free Up Property Data For Kiwis

Trade Me Backed Startup To Free Up Property Data For Kiwis

Homes.co.nz is a new site set to give New Zealand free access to property data like estimated values, recent sales, historic sales, current listings and council data. It’s all in the name of helping people to make smarter property decisions according to co-founder Jamie Kruger.

Until now, Kiwis have had to pay for a lot of this property information; and exploring data across a range of properties required a subscription generally only taken up by Real Estate Agents. John Holt the CEO of Homes.co.nz believes this is the change other countries have experienced for some time.

“In other countries most housing information is free on websites like Zillow.com. It’s crazy to think that you get more free insights buying a TV than you do a property in NZ.” Says Holt

As well as recent sales prices Homes.co.nz will be publishing a free computer generated market estimate for every home, in similar fashion to overseas sites like ZIllow.com and Zoopla.co.uk. Unlike rating valuations that can get out of date quickly, the model updates monthly by matching up your home’s public record with recent and historic sales in your area.

On accuracy of the Homes Estimate Holt says “The Homes Estimate is a great starting point, but has it’s limitations and won’t always be accurate, just like rating valuations. It’s worth talking to a local real estate agent or valuer if you need a more accurate perspective.”

Homes.co.nz is in Beta today with Wellington data available. Holt is quick to emphasise that the site is at the beginning of a long term journey and needs some vigorous user testing, which Wellington is invited to do. Other areas will be made available over summer, once they’re happy with results from the Beta.

It’s been a two year undertaking, negotiating access to data directly from councils and agents while investing heavily into the website, Apple and Android apps. Capital has come from private individuals with a small (13%) shareholding also going to Trademe.

Homes.co.nz pays for itself via advertising, and by supporting Real Estate Agents with innovative marketing tools. Listings on Homes.co.nz are only available through Agents.

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