According to NEWSROOM real estate agents Steve Williams and Caroline Yau got a five-star review – for selling a four-bedroom house for $760,000 less than what the owner paid for it at the housing market’s peak.
It’s the biggest loss on a house sale anywhere in the country, CoreLogic data reveals. No home owner has lost more money on a house sale than the vendor, Auckland banker Stuart Howard. Yet he’s philosophical – he knows about finance, and knows that you buy and sell in the same market.
He needed to sell, because he’d just bought a bigger house in Epsom that he plans to renovate, to make a home for his three children.
“Steve and Caroline handled every aspect of the sales and marketing process with a professionalism and persistence that was impressive and – most important for me – delivered the result I needed on time,” he writes in an online review. “What made this outcome all the more impressive was that they did it at the lowest point of the most difficult real estate market in 35 years.”
Howard bought the 625 m² property for $3.01 million in October 2021 – as close to the peak of the market as imaginable. He sold it in February for $2.25m. The only change, apart from the rising interest rates and ensuing market decline, was the council granting resource consent for a block of townhouses to go in next door.
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