Profit fell to $1.46 million in the 12 months ended March 31, from $8.1 million a year earlier.
The website seeks to overcome a lack of scale for smaller companies whose brands might not be familiar to Chinese consumers.
Wellington’s office market has swung heavily in favour of landlords, with rents expected to go up over the next 12 months after vacancies plummeted to 1.2% as a result of the November earthquake.
The bubbling property market is beginning to cool as tighter credit conditions and restrictions on riskier mortgage lending has dented demand.
Funding, timing and location critical.