1 in 8 Auckland homes listed for sale were bought during the 2020-2022 boom, now at risk of loss as prices fell 19% and interest rates increased.
1 in 8 Auckland homes listed for sale recently were bought during the 2020-2022 boom, putting them at risk of loss/minimal profit as prices fell by 19% to $1.3 million, while interest rates increased. Unemployment and mortgage delinquencies are rising, increasing the likelihood of mortgagee sales. Credit company Centrix reported 21,800 people behind in mortgage payments in January, a 16% increase.
May 11, 2024
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