12 | New Zealand Pain & Gain Report October 2017 © Copyright 2017. CoreLogic NZ Limited (CoreLogic) and its licensors are the sole and exclusive owners of all rights, title and interest (including intellectual property rights) subsisting in this publication including any data, analytics, statistics and other information. All rights reserved. Gisborne has experienced a higher proportion of loss making sales in recent years than Rotorua or Whangarei, however the drop from the previous quarter was significant – from 14.5% in Q1 to 6.1% in Q2. For the last four quarters loss-making sales in both Rotorua and Whangarei have been few and far between - plateauing at around 2% of all sales. This is likely a reflection of the fact average values in Gisborne are still not back to the same level as the previous peak of the market in 2007. Rotorua and Whangarei are 40% and 26% above their previous peak respectively. Main Urban Areas Upper North Island 1997 2002 2007 2012 2017 0% 10% 20% 30% 40% 50% Whangarei District Gisborne District Rotorua District Q2 2017 Q1 2017 Gisborne District 6.1% 14.5% Rotorua District 1.1% 1.8% Whangarei District 1.5% 2.1% Proportion of total resales at a loss