More forced sales will occur in "high-risk" property spheres, such as the resort developments of Queenstown, Wanaka and Taupo, where development has been speculative and large-scale.
Chris Eves, property studies professor at Lincoln University, says any developments nearing completion or complete at the time finance companies went down will take big price hits if receivers want to realise on them quickly.
Cashed-up buyers will buy from failed financiers at a much lower price to book value, Eves says.
"Anyone in the market for a holiday home has a big choice compared to three or four years ago."
Many buyers are holding back, but the major lenders have customers across the board - from residential to large commercial developers - who are cashed up and ready, says Eves.
