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28 Jul 2021 2:06
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  •   Home > News > Business

    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


    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.

    © 2021 Newstalk ZB, NZCity

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