Desperate buyers turn to leaky homes
Auckland Property Investors Association president David Whitburn said there had been a noticeable change in attitude among buyers over the past couple of months.
Previously, leaky homes had been selling at about land value – or in some cases below – to investors.
Now, they are selling for much better prices to owner-occupiers willing to take a punt.
Whitburn said leaky houses were now selling for $100,000 to $200,000 below their capital value. “People think it’s a good buy and say ‘we’ll fix a wall this year, a wall next year’… but it’s a high-risk strategy.”
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
