New Zealand homeowners are holding onto their properties for the longest period yet

A report by Cotality NZ reveals the median hold period for profitable re-sales hit a record 10.1 years - for the fourth quarter of last year.

Resale profits have also stabilised - with 88-percent of homes selling for more than their purchase price.

Chief Property Economist Kelvin Davidson says the hold period matters a lot - as properties selling for a loss had been held for only about four years.

He says properties that have been held for more than 15 years, will not likely get a price higher than what they originally sold for.