Flood Prone Homes: A Bitter Bargain in New Zealand The recent surge in flood prone homes being sold at discounted prices in New Zealand raises questions about the country's housing market and its buyers' priorities.
On the surface, it seems like a savvy move for cash strapped buyers to accept known flood exposure in exchange for a lower price point.
However, data from Cotality suggests that these properties are not only trading at an initial discount but also growing in value faster than their undamaged counterparts.