PHOTO: ABIGAIL DOUGHERTY/STUFF The days of flipping properties in Auckland for a “quick buck” seemed to be over.
There is still money to be made in the property market in some parts of the country, but sellers are being warned to avoid common mistakes that reduce the price they sell for.
It was revealed by the Real Estate Institute this week that, in some parts of Auckland, the median residential property sale price in the six months to the end of March was 30 per cent less than in the same period the year before.
Mt Albert had the biggest price slump, followed by Royal Oak.
Data from Homes.co.nz shows that the median capital gain across Auckland in the past six months, for properties bought and sold within the past two years, was about $40,000.
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