Video will play in Play now Don't auto playNever auto playUp to 75 per cent of Auckland residential property going under the hammer are failing to sell, an investor and developer says. David Whitburn, who runs the Fuzo development business and is building many residences throughout Auckland, said he had noticed a big drop lately. The North Shore and west Auckland are still reasonably good clearance rates but some of the Auckland central rates are less than 25 per cent," Whitburn said in a NZH Focus interview. However prices were not following clearance rate drops, he said. Earlier this week, investor Ron Hoy Fong also said clearance rates were down.

Source: New Zealand Herald November 25, 2016 01:33 UTC