16/03/2021
Economist Cameron Bagrie on The AM Show. Credits: Video - The AM Show; Image - Newshub/Getty
People who sold Auckland and Wellington houses late last year pocketed a median profit of close to half-a-million dollars.
Property analyst firm CoreLogic, which has been tracking the market since the mid-1990s, says there s never been a more profitable time. It s not surprising because we know prices have been rising for a pretty steady period of time - go back 10 or 15 years really, the New Zealand housing market has been on an upswing, senior property economist Kelvin Davidson told Newshub. If anything, it accelerated at the end of 2020. the acceleration we saw in the property market at the end of last year was pretty stark. Basically anybody reselling - especially if they held for five, 10 or 15 years, was almost certain to get a price higher than what they paid.