Up to a quarter of homes could soon be selling for a loss, if mortgages rates keep on rising.

New figures from Core Logic show almost three-percent of homes sold at a loss in the three months to September.

That's up from less than one percent in the three months of December.

Chief Property Economist Kelvin Davidson told Mike Hosking we could reach the point where up to 25 percent of home sales aren't profitable, and more people are being forced to sell their homes.

LISTEN ABOVE

Up to a quarter of homes could soon be selling for a loss, if mortgages rates keep on rising.
New figures from Core Logic show almost three-percent of homes sold at a loss in the three months to September.
That's up from less than one percent in the three months of December.
Chief Property Economist Kelvin Davidson told Mike Hosking we could reach the point where up to 25 percent of home sales aren't profitable, and more people are being forced to sell their homes.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.