House sellers made $1.5 billion in three months

PHOTO: 123RF – Auckland sellers made the largest gains, at a median $370,000 per sale. They were followed by Tauranga, at $227,500 and Hamilton at $206,500. Wellington had a median gain of just over $200,000.

New Zealand’s strong property market boosted homeowners’ bank accounts by $1.5 billion in just three months last year.

CoreLogic has released its latest Pain and Gain report, for the December quarter of last year.

It shows how much people made, or lost, when they sold their properties.

In the three months to the end of 2017, 96 per cent of properties were sold for a price that was higher than the owners paid for them. Just over 90 per cent of apartments and more than 96 per cent of houses made a gain for their owners.

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