One in eight home sales in Q2 made a loss
The share of residential property sales at a loss has surged to 13% in the second quarter, up from under 1% four years ago.
Property losses have become significantly more common in New Zealand's residential market. In the second quarter, 13% of home sales resulted in a loss for the seller, a dramatic increase from less than 1% in 2022. The shift reflects the substantial decline in property values since the market peaked.
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Almost one-in-eight residential property sales in Q2 was loss making
The percentage of residential properties selling at a loss has increased o 13% from less than 1% in 2022, Cotality says