Evidence mounts for NZ property market rebound
It says profit-making resales of houses have increased nationally to 96.8%. On a median national resale basis that is a gain of $229,000.
These figures are up from $220,000 nationally in the second quarter of 2020, and not far short of record peak of $233,000 at the start of the year.
Median resale loss, or ‘pain’, also improved the latest quarter, from $22,500 to $20,000. That was the smallest median resale loss in two years.
CoreLogic’s Pain and Gain Report, compares resales to the original purchase price. The national trend of strong property ‘gain’ and minimal ‘pain’ was replicated in most of the main centres, consistent with the broad rebound CoreLogic has also seen for sales activity and property values.
In Hamilton and Wellington, about 99% resales in the latest quarter were made above the original purchase price, with Tauranga and Dunedin at 98%. Auckland and Christchurch also showed improvements in the third quarter.
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.
