8 | 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. Wellington hasn’t experienced as high a share of loss-making sales over the years as the other North Island main cities, particularly Hamilton in the early 2000s and Tauranga in the early 2010s. This reflects Wellington’s more stable property market as it previously hasn’t gone through the same extreme peaks and troughs of other markets. 1997 2002 2007 2012 2017 10% 20% 30% 40% Auckland Hamilton City Tauranga City Wellington Proportion of total resales at a loss Q2 2017 Q1 2017 Auckland 1.8% 1.2% Hamilton City 1.5% 0.8% Tauranga City 1.9% 2.4% Wellington 1.5% 1.3% Christchurch City 7.9% 8.2% Dunedin City 2.7% 2.7% Main Centres Historically there are reasonable differences between the North Island main centres across the country when it comes to the proportion of loss-making resales; however the proportions in Q2 2017 are very consistent – all between 1.5% and 1.9%. The last time all four cities were as closely aligned was throughout the strong growth cycle from 2004 to 2008.