4 | 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. Across New Zealand, 3.7% of all home resales over the June 2017 quarter transacted at a gross loss. This is effectively flat from the prior quarter and reflects that property market growth has slowed down in 2017. It is near historically low levels, although not quite as low as in the lead up to the prior peak of the market, suggesting that the recent growth hasn’t been as strong and/or as widespread as that growth cycle. The downward trend over the past six years is unsurprising when you consider the growth in values that the NZ Property Market has gone through over that period - as prices increase it becomes less likely that a property will sell at a loss. National Overview 1997 2002 2007 2012 2017 5% 10% 15% 20% 25% Median Difference Total Value Pain -$19,729 -$26,474,021 Gain $170,000 $3,703,792,069 Q2 2017 Q1 2017 3.7% 3.7% Proportion of total resales at a loss Nationally there was over $26m in realised losses over the quarter with a median loss of almost $20k per sale. This is dwarfed by the amount gained from properties sold at a profit, which totalled $3.7b (a slight drop from prior quarter $3.9b) at a median gain of $170k per sale.