New Zealand Luxury Homes Surprisingly Sold to Local Buyers

Patrick McAteer and Suzanne Browne of Sotheby's International have been selling luxury homes in Auckland for nearly $150 million over the past financial year.

The surprising twist is that half of their buyers are Kiwis, known as High Net Worth or Ultra-High Net Worth individuals who often fly under the radar.

McAteer describes them as 'surprise and delight' clients, meeting people they've never heard of before. He notes that there's a common misconception that these individuals must be well-known, but in reality, many are not.

'They're nowhere, and they have considerable budgets to buy something in the millions and millions of dollars,' McAteer explains.