Episode Details

Home sales in New Zealand saw a significant drop in the first quarter, with Auckland, Hamilton, Wellington, and Palmerston North experiencing substantial losses. Apartments fared the worst, with 41.1% sold at a loss. Investors also faced significant losses, up from 11.3% to 13.7%. Sellers who profited held properties for a median of 10 years, while those who lost money owned theirs for just 4.2 years. Experts describe it as a buyers market, with flat prices squeezing quick flippers. Despite a slight national increase of 0.3% in property values, they remain 0.2% below last years average. Sellers, particularly Auckland apartment investors, remain cautious in this standoff.

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