5:31 am today
A set of townhouses under development in Auckland.
Two townhouses in upmarket St Andrews Road, Epsom in Auckland, have resold for losses of hundreds of thousands of dollars - and data showsthey are not unusual.
Almost 20 percent of townhouses are being sold for a lower price than their owners paid for them.
Last week, Cotality reported 11 percent of houses sold in the first quarter of this year changed hands for less than their owners paid for them, and 41 percent of apartments. Townhouses were sold at a loss rate of 18 percent.
