RAY WHITE
This property in Te Atatu has watertight issues, but was sold recently by Ray White. The buyer, who works in construction, has moved in with flatties, but has long-term plans to demolish the house and rebuild.
As the median price of property escalates every month, buyers could be forgiven for thinking that buying a leaky home might be a way to get ahead on the property ladder. The price of the property would still be comparatively low, and, eventually, once the house has been reclad, you would have an “as-new” house that would benefit more from any increase in median prices.