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Even though it first came to light nearly 30 years ago, New Zealand’s leaky homes saga stills casts a pretty grim shadow over parts of the housing market. If you’re looking at buying (or selling) a leaky or at-risk house and want to school up on the things to watch for, this guide is for you.

This article is written for prospective homebuyers, but it is also an important reference point for leaky owners trying to sell. Plaster houses are harder to sell and will sell for 10%-15% below what an equivalent weatherboard house would sell for.