7 | 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. 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. From 2016 the proportion of properties selling at a loss has increased each quarter - up to 7.9% in the first quarter of 2017. 1997 2002 2007 2012 2017 0% 10% 20% 30% 40% Christchurch City Dunedin City Pain Gain Median Gross Loss Total Value of Loss Median Gross Profit Total Value of Profit Auckland -$36,750 -$3,429,583 $381,000 $1,662,732,824 Hamilton City -$8,000 -$148,000 $190,000 $99,153,891 Tauranga City -$25,000 -$515,300 $234,000 $166,938,568 Wellington -$26,500 -$1,641,100 $193,000 $324,863,188 Christchurch City -$50,000 -$6,904,511 $150,000 $243,640,372 Dunedin City -$3,000 -$168,174 $100,250 $76,049,202 Total profit from gain-making sales in Q1 2017 in Auckland was over $1.6b, at a median value of $381,000 per sale. Christchurch has also experienced the greatest median loss at $50,000 per sale, compared to only $3,000 in Dunedin. The total value of losses in Christchurch in the first quarter of 2017 is almost $7m, while Auckland is roughly half this, reflecting the lower volume of loss-making sales in Auckland. Proportion of total resales at a loss