When and Where to Focus Your Listings in June 2021
As Malaysians brave through yet another lockdown, we hope you continue to stay safe, stay positive and stay centered among the uncertainties.
With everyone mandated to stay home, you can expect property seekers to rely heavily on online platforms and virtual channels for their home buying journey. To help you optimize your Auto-Repost and Spotlight listings, let’s look at property seekers behaviour in the past month.
Key Highlights of PMI Q2 2021
ICYMI, here’s a summary of our Property Market Index Q2 2021 which tracks the asking price and supply trend across Malaysia.
Overall median asking prices psf dropped by 1.79% YoY and 0.84% QoQ as a result of recent COVID-19 infection spikes and ongoing pandemic-related uncertainty, but increased vaccinations are expected to bring more stability as the year progresses.
Selangor was the only state that recorded positive price movement in Q1 2021, suggesting it is likely to stay on this course in Q2 2021.
In contrast, Johor’s downward trend of asking prices has been accelerating since the start of the COVID-19 pandemic, having the sharpest drop in asking prices among the four key regions, falling by 1.36% QoQ and 5.66% YoY in Q1 2021.
Overall supply of new property in the market spiked by 15.85% YoY in Q1 2021. This is the highest volume of supply growth recorded since Q1 2020, prior to when the full impact of the pandemic was felt in the market.
Penang recorded the highest spike in yearly supply volume, registering a 34.17% YoY increase. This is also the third consecutive quarter of positive supply growth for Penang. In reverse, Johor is the only region that experienced a property supply shrink in the first quarter of the year by 3.55% QoQ.
Read the full report here
When To Focus Your Listing
In our previous edition, we saw Sundays having the highest traffic followed closely by Saturdays in April.
Based on Google Analytics data from 1st to 31st May 2021, we see high volumes of activity on Mondays followed closely by Tuesdays. This means you should schedule your Auto-Repost on these days to ensure your listings rank high.
As for time of the day, highest traffic are spotted during Mondays, Saturday and Sundays between 10AM to 10PM – you definitely want to make sure your listings stand out during this time.
Where to Focus Your Listing
Now, let’s look at which locations are property seekers searching for in Kuala Lumpur, Selangor, Penang and Johor between 1st until 31st May 2021.
TIP! Listing Performance Insights allows you to monitor your listing performance, competition, your spending and more. Check it out here
That’s all for this week, we hope you’ll find these insights helpful in planning your marketing activities. Stay safe and stay tuned for our next update!
Being a better partner for you,