Auckland property

 

PHOTO: SIMON O’CONNOR/STUFF The percentage of houses being sold at a loss is increasing.

About 10 per cent of all Auckland property sales are now resulting in a loss for the seller – a level not seen for six years.

CoreLogic has released its latest Pain and Gain report, which shows that nationwide, 4.4 per cent of sales were for less than the seller had originally paid for the property.

That is up on 3.6 per cent the previous quarter.

But in Auckland, 9 per cent were for a loss, compared to 5 per cent a year earlier.

The number is probably higher still because CoreLogic’s statistics do not include the sizeable real estate commission and marketing costs usually associated with selling a property.

READ MORE VIA STUFF

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