New Zealand Pain & Gain Report October 2017 | 9 © 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. Pain Gain Median Difference Total Value Median Difference Total Value Auckland -$26,000 -$3,628,735 $370,000 $1,606,074,093 Hamilton City -$20,000 -$342,857 $201,125 $130,163,955 Tauranga City -$55,000 -$623,000 $240,000 $132,211,445 Wellington -$30,000 -$1,120,595 $198,526 $311,055,954 Christchurch City -$36,500 -$6,708,644 $145,000 $249,899,401 Dunedin City -$19,000 -$298,689 $105,000 $63,127,031 Christchurch had seen a very low proportion of loss-making resales since 2013 as values grew post the 2010/11 earthquakes with supply reduced and demand (from workers moving to the city) increased. Throughout 2016 the proportion of properties selling at a loss has increased each quarter but this has effectively levelled off in 2017, at 7.9% in Q2. Dunedin has followed a similar trend to Hamilton with the proportion of sales selling at a loss dropping over the last 6 years and it has now plateaued at less than 3% per quarter. 1997 2002 2007 2012 2017 0% 10% 20% 30% 40% Christchurch City Dunedin City Proportion of total resales at a loss The median loss in Tauranga has risen to more than $55k, while in Dunedin and Hamilton, the median loss has increased from the prior quarter but to roughly $19k and $20k respectively. The total value of losses in the latest quarter in Christchurch remains high at $6.7m, while Auckland rose marginally, to $3.6m. Total profit from gain-making sales in Q2 2017 in Auckland was over $1.6b (consistent with last quarter), at a median value of $370k per sale. No other city comes near these figures with Wellington sellers realising $311m in profit for the quarter and Tauranga the next-highest median gain behind Auckland, of $240k per gain-making sale.