Of all the residential properties sold throughout New Zealand in the second quarter of this year, 6.9% were sold for less than they had been purchased for, leaving their vendors with a loss. The percentage of properties being sold at a loss has been steadily increasing since the fourth quarter (Q4) of 2021, when just 0.7% of properties were sold at a loss. In the main centres the proportion of properties being sold at a loss is greatest in Auckland at 11.2% and Hamilton 10.7%, followed by Dunedin 5.9%, Wellington 5.4%, Tauranga 4.7% and Christchurch 4.9%. Of course if 6.9% of the residential properties sold in the second quarter of this year were sold at loss, that left 93.1% that were sold for more than their purchase price, giving their vendors a capital gain. Timing keyLooking the national figures, the most obvious determinant of whether a property sold for a gain or a loss was when it was purchased.

Source: Stuff August 09, 2023 22:13 UTC