Auckland woman’s big loss in housing market downturn

Up to 2.5 percent of vendors are now losing money when they sell their homes, Newsroom reveals. Nationwide sales figures show the worst loss last month was suffered by a vendor in Henderson Valley, in west Auckland, who in November 2020 purchased a very small three-bedroom cottage for $1.1 million. Just 18 months later on April 22, she sold it for $1.025m – that’s $75,000 less than she paid, and on paper it’s also a $95,000 discount on the June 2021 rateable value of $1.12m.