PHOTO: Auckland – New Zealand
NZ’s latest Pain and Gain results are out, and once again we’ve seen large gross profits being made by resellers and minimal gross losses.
Almost 96% of all NZ properties sold during 1 July 2018 – 30 September 2018 enjoyed a re-sale gross profit, for a total resale gain of $3Billion – a median gain of a very tidy $180,000 per property. By comparison, just 4.2% of all properties resold at a loss over the same period, a very minor rise from 4.0% in the previous quarter 2018. Total resale losses for The September Quarter (Q3) were $29.9m (a median loss per property of $20,000).
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