What’s the magic offer?

 

PHOTO: 123RF – Dreaming of your own DIY makeover? First you’ll need your offer accepted.

New Zealand property buyers are not bargaining hard to push vendors down on their advertised price, new data suggests.

The information from the Real Estate Institute of New Zealand and property listings site Realestate.co.nz shows the gap between the asking price, on properties where one was listed, and the sales price.

The data does not include houses sold by auction or listed as “price by negotiation”. These have been a large part of the market in recent years. Typically, houses listed with an asking price are those at the cheaper end of the market.

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