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Twice as many Aucklanders losing money on their homes
https://www.stuff.co.nz/business/111775296/twice-as-many-aucklanders-losing-money-on-their-homes
The number of Auckland homeowners selling their properties for less than they paid for them has doubled over the past year.
New data from Homes.co.nz, which is based on sales information lodged with the local council, shows that 7.2 per cent of sales in the first quarter of this year have resulted in a capital loss for Auckland property owners.
That is compared to 3.1 per cent in the same period of 2018 and 1.5 per cent at the end of 2016.
But it's not only homeowners in the biggest city who are ending up out of pocket.
In Christchurch, even more people are losing money - there, 12.1 per cent of sales in the first quarter of this year resulted in the owner losing money on the deal.
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One Auckland property, on East Coast Road, was bought for $2.5 million in September 2017 and sold in January for $2m.
Another, on Macleans Road, sold for $1.739m in January after changing hands for $2.15m in 2016.
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