12 | New Zealand Pain & Gain Report July 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. Losses in Nelson and Queenstown have dropped to near or at zero for the most recent and previous quarter. The proportion of loss-making resales in Invercargill has been trending lower for the past six quarters but remain higher, at 8.3%, relative to the other Main Urban Areas in the South Island. Main Urban Areas South Island 1997 2002 2007 2012 2017 0% 20% 40% 60% 80% Invercargill City Nelson City Queenstown Lakes District The median gain in Queenstown is much higher than in Nelson or Invercagill, reflecting higher property values. However due to lower sales volumes the total value of profit isn’t much higher than in Nelson. The value per loss in Invercargill is only $10,500, however the sheer volume of sales takes the total loss over $400,000. The large pain figure for Queenstown is attributable to one loss-making sale – that of a $3m Lifestyle property in Gibbston. Q1 2017 Q4 2016 Nelson City 0.8% 0.0% Queenstown Lakes District 0.7% 0.0% Invercargill City 8.3% 11.0% Pain Gain Median Gross Loss Total Value in Loss Median Gross Profit Total Value in Profit Nelson City -$9,000 -$18,000 $150,000 $44,234,296 Queenstown Lakes District -$615,000 -$615,000 $324,000 $59,208,743 Invercargill City -$10,500 -$422,394 $51,000 $26,002,920 Proportion of total resales at a loss