6 Jun 2024

Luxury home owners take cash overseas

From Checkpoint, 4:08 pm on 6 June 2024

A luxury real estate company claims multi million dollar property owners are selling up and abandoning New Zealand for the lucky country..taking their cash with them. Patterson Luxury says industry data shows 50 percent of vendors who sold multi million dollar homes over the past six months have moved to Australia. The homes sold were in the 4 to ten million dollar bracket. Caleb Patterson from real estate agency Patterson Luxury says something needs to be done to stem the flow of high net worth individuals to Australia and to attract international investors.