PHOTO: CoreLogic
National Overview
Across New Zealand as a whole, the proportion of properties being resold for more than the original purchase price
(i.e. a gross profit, or “gain”) in Q1 2019 was 96.5%, slightly above the figure of 96.2% in the final quarter of 2018.
The high proportion of properties being resold for a gain in the first quarter of 2019 simply continues the pattern that
has prevailed for a few years now. Indeed, the profit percentage has been more than 95% every quarter since Q3 2016.
Of course, given that property values have been rising pretty much right across the country for a number of years now,
it’s no surprise that the gain figures at resale are high.
The flipside of high levels of gain, of course, is low levels of pain. The proportion of properties being resold for less than
the original purchase price (i.e. a gross loss) was 3.5% in Q1 2019, slightly down from 3.8% in Q4 2018. Where a property
has previously had a building consent issued against it – or in other words has been renovated – the degree of pain is
even lower. Just 0.3% of property resales in Q1 2019 had previously been renovated but still made a gross loss.
READ MORE VIA CORELOGIC