When Chanel and Mose Atigi made the decision to put their family home on the market, their property was appraised at $NZ120,000 ($106,896) more than the price it sold for just four weeks later.
The couple live in Auckland — a city known as the "workhorse" of New Zealand's real estate market — where just a year ago buyers were easy to come by and reserves were easily met.
This market leads the nation's up and down house price cycles — as goes Auckland, so goes the rest of the country.
