Profit from resales of residential property have hit a 25-year high, with 98.9 per cent of residential property resales between January and March 2021 making a profit.
According to new CoreLogic data, those re-selling homes are making a median gain of $313,000, $24,000 more than last quarter.
CoreLogic says the limited supply and increased demand for housing means property investors have a good chance for profit.
Only 0.5 percent of home re-sales in Wellington made a loss, with the median profit in the capital now at sitting $506,000.
At the previous peak in mid-2007, the median resale gain was ‘just’ $129,500.
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