Matt Ball: NZ Property Investors Federation PR & Advocacy Manager on the property resale profits hitting a decade low
Early Edition with Ryan Bridge · Newstalk ZB
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Show Notes
Times are tough for property owners as they see the lowest resale profits in over a decade.
Cotality’s latest Pain & Gain Report shows 89.4% of homes sold above their purchase price last quarter – the lowest since 2014.
Christchurch was the most resilient of the main centres, with 4.9% of Q2 resales made at a loss, well below the national average of 10.6%, while Auckland recorded the highest proportion of loss-making sales at 15.9%.
NZ Property Investors Federation’s Matt Ball told Ryan Bridge this is only a problem for those who are being forced to sell.
For property investors, he says, unless you bought at the peak and have to sell for some reason, this is just another cycle to ride out.
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