Wellington houses are selling for crazy profits, but a real estate agent says the only people really benefiting are investors
Wellington houses are selling for crazy profits, but a real estate agent says the only people really benefiting are investors
25 May 2021
Core Logic's latest Pain and Gain report shows 98.9 percent of property re-sales nationwide made a profit in the first quarter of the year.
Wellington's seen the biggest gains... with houses sold between January and March making a median profit of more than half a million dollars.
But Tommy Real Estate's Nicki Cruickshank says that profit is largely meaningless.
She says the only people getting ahead are those selling rental properties or down sizing.
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